Kentucky Statutes 273.161 – Definitions for KRS 273.161 to 273.390
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As used in KRS § 273.161 to KRS § 273.390, unless the context otherwise requires:
(1) “Corporation” or “domestic corporation” means a nonprofit corporation subject to the provisions of KRS § 273.161 to KRS § 273.390, except a foreign corporation, and for the purposes of KRS § 273.277 to KRS § 273.293, the term “corporation” also means domestic nonprofit limited liability companies;
(2) “Disaster” means any natural, technological, or civil emergency that causes damage of sufficient severity and magnitude to result in a declaration of a state of emergency by a county, the Governor, or the President of the United States;
(3) “Foreign corporation” means a nonprofit corporation organized under laws other than the laws of this state;
(4) “Nonprofit corporation” means a corporation no part of the income or profit of which is distributable to its members, directors or officers;
(5) “Articles of incorporation” means the original or restated articles of incorporation or articles of consolidation and all amendments thereto, including articles of merger;
(6) “Bylaws” means the code or codes of rules adopted for the regulation or management of the affairs of the corporation irrespective of the name or names by which such rules are designated;
(7) “Member” means one having membership rights in a corporation in accordance with the provisions of its articles of incorporation or bylaws;
(8) “Board of directors” means the group of persons vested with the management of the affairs of the corporation irrespective of the name by which group is designated;
(9) “Insolvent” means inability of a corporation to pay its debts as they become due in the usual course of its affairs;
(10) “Principal office” means the office, in or out of this state, so designated in the annual report where the principal executive offices of a domestic or foreign corporation are located;
(11) “Secretary” means the corporate officer to whom the board of directors has delegated responsibility for custody of the minutes of the meetings of the board of directors and the members and for authenticating records of the corporation;
(12) “Individual” includes the estate of an incompetent or deceased individual;
(13) “Entity” includes a domestic or foreign corporation; not-for-profit corporation; profit and not-for-profit unincorporated association; business or statutory trust, estate, partnership, limited partnership, limited liability company, trust, and two (2) or more persons having a joint or common economic interest; and state, United States, and foreign government;
(14) “Person” includes individual and entity.
(15) “Name of record with the Secretary of State” means any real, fictitious, reserved, registered, or assumed name of an entity;
(16) “Real name” shall have the meaning set forth in KRS § 365.015;
(17) “Deliver” or “delivery” means any method of delivery used in conventional
commercial practice, including delivery by hand, mail, commercial delivery, and electronic transmission;
(18) “Effective date of notice” means notice when effective under KRS § 273.162(3);
(19) “Electronic transmission” or “electronically transmitted” means any process of communication not directly involving the physical transfer of paper that is suitable for the retention, retrieval, and reproduction of information by the recipient;
(20) “Notice” means notice as described in KRS § 273.162;
(21) “Sign” or “signature” includes any manual, facsimile, or conformed or electronic signature; and
(22) “Limited liability company” or “LLC” means a domestic nonprofit limited liability company.
Effective: June 27, 2019
History: Amended 2019 Ky. Acts ch. 131, sec. 1, effective June 27, 2019. — Amended
2015 Ky. Acts ch. 34, sec. 68, effective June 24, 2015. — Amended 2013 Ky. Acts ch. 113, sec. 1, effective June 25, 2013. — Repealed and reenacted 2010 Ky. Acts ch.
51, sec. 79, effective July 15, 2010. — Amended 2007 Ky. Acts ch. 137, sec. 79, effective June 26, 2007. — Amended 1988 Ky. Acts ch. 23, sec. 195, effective January 1, 1989. — Amended 1986 Ky. Acts ch. 202, sec. 7, effective March 28,
1986. — Created 1968 Ky. Acts ch. 165, sec. 2.
Legislative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183, provides, “The specific textual provisions of Sections 1 to 178 of this Act which reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed effective as of June 26, 2007, and those provisions are hereby made expressly retroactive to that date, with the remainder of the text of those sections being unaffected by the provisions of this section.”
Legislative Research Commission Note (6/26/2007). 2007 Ky. Acts ch. 137, sec. 79, subsection (15) cited “Section 164 of this Act.” It is apparent from context that the section referred to should have been Section 163 of the Act, KRS § 365.015. The Reviser of Statutes has made this change under the authority of KRS § 7.136.
(1) “Corporation” or “domestic corporation” means a nonprofit corporation subject to the provisions of KRS § 273.161 to KRS § 273.390, except a foreign corporation, and for the purposes of KRS § 273.277 to KRS § 273.293, the term “corporation” also means domestic nonprofit limited liability companies;
Terms Used In Kentucky Statutes 273.161
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- 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
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- Domestic: when applied to a corporation, partnership, business trust, or limited liability company, means all those incorporated or formed by authority of this state. See Kentucky Statutes 446.010
- Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership: includes both general and limited partnerships. See Kentucky Statutes 446.010
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(2) “Disaster” means any natural, technological, or civil emergency that causes damage of sufficient severity and magnitude to result in a declaration of a state of emergency by a county, the Governor, or the President of the United States;
(3) “Foreign corporation” means a nonprofit corporation organized under laws other than the laws of this state;
(4) “Nonprofit corporation” means a corporation no part of the income or profit of which is distributable to its members, directors or officers;
(5) “Articles of incorporation” means the original or restated articles of incorporation or articles of consolidation and all amendments thereto, including articles of merger;
(6) “Bylaws” means the code or codes of rules adopted for the regulation or management of the affairs of the corporation irrespective of the name or names by which such rules are designated;
(7) “Member” means one having membership rights in a corporation in accordance with the provisions of its articles of incorporation or bylaws;
(8) “Board of directors” means the group of persons vested with the management of the affairs of the corporation irrespective of the name by which group is designated;
(9) “Insolvent” means inability of a corporation to pay its debts as they become due in the usual course of its affairs;
(10) “Principal office” means the office, in or out of this state, so designated in the annual report where the principal executive offices of a domestic or foreign corporation are located;
(11) “Secretary” means the corporate officer to whom the board of directors has delegated responsibility for custody of the minutes of the meetings of the board of directors and the members and for authenticating records of the corporation;
(12) “Individual” includes the estate of an incompetent or deceased individual;
(13) “Entity” includes a domestic or foreign corporation; not-for-profit corporation; profit and not-for-profit unincorporated association; business or statutory trust, estate, partnership, limited partnership, limited liability company, trust, and two (2) or more persons having a joint or common economic interest; and state, United States, and foreign government;
(14) “Person” includes individual and entity.
(15) “Name of record with the Secretary of State” means any real, fictitious, reserved, registered, or assumed name of an entity;
(16) “Real name” shall have the meaning set forth in KRS § 365.015;
(17) “Deliver” or “delivery” means any method of delivery used in conventional
commercial practice, including delivery by hand, mail, commercial delivery, and electronic transmission;
(18) “Effective date of notice” means notice when effective under KRS § 273.162(3);
(19) “Electronic transmission” or “electronically transmitted” means any process of communication not directly involving the physical transfer of paper that is suitable for the retention, retrieval, and reproduction of information by the recipient;
(20) “Notice” means notice as described in KRS § 273.162;
(21) “Sign” or “signature” includes any manual, facsimile, or conformed or electronic signature; and
(22) “Limited liability company” or “LLC” means a domestic nonprofit limited liability company.
Effective: June 27, 2019
History: Amended 2019 Ky. Acts ch. 131, sec. 1, effective June 27, 2019. — Amended
2015 Ky. Acts ch. 34, sec. 68, effective June 24, 2015. — Amended 2013 Ky. Acts ch. 113, sec. 1, effective June 25, 2013. — Repealed and reenacted 2010 Ky. Acts ch.
51, sec. 79, effective July 15, 2010. — Amended 2007 Ky. Acts ch. 137, sec. 79, effective June 26, 2007. — Amended 1988 Ky. Acts ch. 23, sec. 195, effective January 1, 1989. — Amended 1986 Ky. Acts ch. 202, sec. 7, effective March 28,
1986. — Created 1968 Ky. Acts ch. 165, sec. 2.
Legislative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183, provides, “The specific textual provisions of Sections 1 to 178 of this Act which reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed effective as of June 26, 2007, and those provisions are hereby made expressly retroactive to that date, with the remainder of the text of those sections being unaffected by the provisions of this section.”
Legislative Research Commission Note (6/26/2007). 2007 Ky. Acts ch. 137, sec. 79, subsection (15) cited “Section 164 of this Act.” It is apparent from context that the section referred to should have been Section 163 of the Act, KRS § 365.015. The Reviser of Statutes has made this change under the authority of KRS § 7.136.