Kentucky Statutes 247.964 – Personal liability of board or officers
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No member of the board of directors or other officer of the corporation shall be made subject to any personal liability or accountability by reason of their execution of any obligations of the corporation nor the issuance thereof.
Effective: April 11, 1984
History: Created 1984 Ky. Acts ch. 374, sec. 13, effective April 11, 1984.
Effective: April 11, 1984
Terms Used In Kentucky Statutes 247.964
- Board: means the State Board of Agriculture. See Kentucky Statutes 247.010
- 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
History: Created 1984 Ky. Acts ch. 374, sec. 13, effective April 11, 1984.