Kentucky Statutes 271B.8-020 – Qualifications of directors
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The articles of incorporation or bylaws may prescribe qualifications for directors. A director shall not be required to be a resident of this state or a shareholder of the corporation unless the articles of incorporation or bylaws so prescribe.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 69, effective January 1, 1989.
Effective: January 1, 1989
Terms Used In Kentucky Statutes 271B.8-020
- Articles of incorporation: include amended and restated articles of incorporation and articles of merger. See Kentucky Statutes 271B.1-400
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- Shareholder: means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation. 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
History: Created 1988 Ky. Acts ch. 23, sec. 69, effective January 1, 1989.