Any individual subscriber or member of a corporation subject to the provisions of this subtitle who believes himself or herself to be aggrieved by any act or omission of a corporation or its officers, trustees, directors, agents, or representatives, may file a statement in writing of his or her grievance in the office of the commissioner, and the commissioner in his or her discretion may make an investigation of the grievance. Investigation by the commissioner shall not act as a bar to any suit in a court of competent jurisdiction instituted by any member or subscriber, or as a bar to any defense by the corporation.
Effective: July 15, 2010
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Terms Used In Kentucky Statutes 304.32-240

  • 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
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.

History: Amended 2010 Ky. Acts ch. 24, sec. 1422, effective July 15, 2010. — Created
1970 Ky. Acts ch. 301, subtit. 32, sec. 24, effective June 18, 1970.

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