Kentucky Statutes 273.357 – Survival of remedy after dissolution
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The dissolution of a corporation either (1) by the filing of articles of dissolution with the Secretary of State, or (2) by a decree of court when the court has not liquidated the assets and affairs of the corporation as provided in KRS § 273.161 to KRS § 273.390 shall not take away or impair any remedy available to or against the corporation, its directors, officers, or members, for any right or claim existing, or any liability incurred, prior to the dissolution if action or other proceeding thereon is commenced within two (2) years after the date of such dissolution. Any such action or proceeding by or against the corporation may be prosecuted or defended by the corporation in its corporate name. The members, directors, and officers may take corporate or other action appropriate to protect the remedy, right, or claim.
Effective: July 15, 1998
History: Amended 1998 Ky. Acts ch. 341, sec. 17, effective July 15, 1998. — Amended
1988 Ky. Acts ch. 23, sec. 209, effective January 1, 1989. — Created 1968 Ky. Acts ch. 165, sec. 61.
Effective: July 15, 1998
Terms Used In Kentucky Statutes 273.357
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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
- 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: Amended 1998 Ky. Acts ch. 341, sec. 17, effective July 15, 1998. — Amended
1988 Ky. Acts ch. 23, sec. 209, effective January 1, 1989. — Created 1968 Ky. Acts ch. 165, sec. 61.