No professional service corporation organized or authorized to conduct business under this chapter shall engage in any business other than the rendering of the professional service or services for which it was specifically incorporated, provided, however, that nothing in this chapter or in any other provisions of existing law applicable to corporations shall be interpreted to prohibit such corporation from investing its funds in real estate, mortgages, stocks, bonds or any other type of investment, or from owning real or personal property necessary for the rendering of professional services.
Effective: July 15, 1980
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Terms Used In Kentucky Statutes 274.115

  • 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
  • Personal property: All property that is not real property.
  • real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010

History: Amended 1980 Ky. Acts ch. 288, sec. 14, effective July 15, 1980. — Created
1962 Ky. Acts ch. 236, sec. 12.

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