Kentucky Statutes 271B.6-280 – Expense of issue
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A corporation may pay or allow the expenses of selling or underwriting its shares or other securities, and of organizing or reorganizing the corporation, from the consideration received for shares without thereby rendering such shares or other securities not fully paid or assessable.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 45, effective January 1, 1989.
Effective: January 1, 1989
Terms Used In Kentucky Statutes 271B.6-280
- 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
History: Created 1988 Ky. Acts ch. 23, sec. 45, effective January 1, 1989.