Kentucky Statutes 155.120 – Amendment of articles of incorporation
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(1) Articles of incorporation may be amended by the votes of the stockholders and the members of the corporation, voting separately by classes, and such amendments shall require approval by the affirmative vote of two-thirds (2/3) of the votes to which the stockholders are entitled and two-thirds (2/3) of the votes to which the members are entitled; provided, that no amendment of the articles of incorporation which is inconsistent with the general purposes expressed herein or which authorizes any additional class of capital stock to be issued, shall be made.
(2) Within thirty (30) days after any meeting at which amendment of the articles of incorporation has been adopted, articles of amendment signed and sworn to by the president, treasurer and a majority of the directors, setting forth such amendment and the due adoption thereof, shall be submitted to the Secretary of State, as provided in KRS Chapter 271B.
Effective: January 1, 1989
History: Amended 1988 Ky. Acts ch. 23, sec. 175, effective January 1, 1989. — Amended 1980 Ky. Acts ch. 188, sec. 116, effective July 15, 1980. — Created 1960
Ky. Acts ch. 73, sec. 12, effective March 21, 1960.
(2) Within thirty (30) days after any meeting at which amendment of the articles of incorporation has been adopted, articles of amendment signed and sworn to by the president, treasurer and a majority of the directors, setting forth such amendment and the due adoption thereof, shall be submitted to the Secretary of State, as provided in KRS Chapter 271B.
Terms Used In Kentucky Statutes 155.120
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
- Sworn: includes "affirmed" in all cases in which an affirmation may be substituted for an oath. See Kentucky Statutes 446.010
Effective: January 1, 1989
History: Amended 1988 Ky. Acts ch. 23, sec. 175, effective January 1, 1989. — Amended 1980 Ky. Acts ch. 188, sec. 116, effective July 15, 1980. — Created 1960
Ky. Acts ch. 73, sec. 12, effective March 21, 1960.