The articles of incorporation shall set forth the amount of total authorized capital stock and the number of shares in which it is divided, the par value of each share, and the amount of capital stock with which the corporation will commence business and, if there is more than one (1) class of stock, a description of the different classes, and the names and post office addresses of the subscribers of stock and the number of shares subscribed by each. The aggregate of the subscription shall be the amount of capital with which the corporation will commence business. The articles of incorporation may also contain any provision consistent with the laws of this Commonwealth for the regulation of the affairs of the corporation or creating, defining, limiting, and regulating its power.
Effective: March 21, 1960
History: Created 1960 Ky. Acts ch. 73, sec. 5, effective March 21, 1960.