(1) If after a hearing the court determines that one (1) or more grounds for judicial dissolution described in KRS § 271B.14-300 exist, it may enter a decree dissolving the corporation, and the clerk of the court shall deliver a certified copy of the decree to the Secretary of State, who shall file it. The dissolution shall be effective upon the latter of the filing of the decree by the Secretary of State or such later date as is specified in the decree.
(2) The effect of the dissolution shall be as set forth in KRS § 271B.14-050.
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Terms Used In Kentucky Statutes 271B.14-330

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
  • Secretary: means the corporate officer to whom the board of directors has delegated responsibility under KRS §. See Kentucky Statutes 271B.1-400
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010

(3) After entering the decree of dissolution, the court shall direct the winding up and liquidation of the corporation‘s business and affairs, including as provided in KRS
271B.14-320, and the notification of claimants in accordance with KRS § 271B.14-
060 and 271B.14-070.
Effective: July 12, 2012
History: Amended 2012 Ky. Acts ch. 81, sec. 96, effective July 12, 2012. — Amended
2011 Ky. Acts ch. 29, sec. 10, effective June 8, 2011. — Created 1988 Ky. Acts ch.
23, sec. 151, effective January 1, 1989.

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