Kentucky Statutes 271B.13-240 – Share restrictions
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(1) The corporation may restrict the transfer of uncertificated shares from the date the demand for their payment is received until the proposed corporate action is taken or the restrictions released under KRS § 271B.13-260.
(2) The person for whom dissenters’ rights are asserted as to uncertificated shares shall retain all other rights of a shareholder until these rights are canceled or modified by the taking of the proposed corporate action.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 130, effective January 1, 1989.
(2) The person for whom dissenters’ rights are asserted as to uncertificated shares shall retain all other rights of a shareholder until these rights are canceled or modified by the taking of the proposed corporate action.
Terms Used In Kentucky Statutes 271B.13-240
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Person: includes individual and entity. See Kentucky Statutes 271B.1-400
- Shareholder: means the record shareholder or the beneficial shareholder. See Kentucky Statutes 271B.13-010
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 130, effective January 1, 1989.