Kentucky Statutes 271B.8-040 – Election of directors by certain classes of shareholders
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If the articles of incorporation authorize dividing the shares into classes, the articles may also authorize the election of all or a specified number of directors by the holders of one (1) or more authorized classes of shares. A class (or classes) of shares entitled to elect one (1) or more directors is a separate voting group for purposes of the election of directors.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 71, effective January 1, 1989.
Effective: January 1, 1989
Terms Used In Kentucky Statutes 271B.8-040
- Articles of incorporation: include amended and restated articles of incorporation and articles of merger. See Kentucky Statutes 271B.1-400
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- Voting group: means all shares of one (1) or more classes or series that under the articles of incorporation or this chapter are entitled to vote and be counted together collectively on a matter at a meeting of shareholders. See Kentucky Statutes 271B.1-400
History: Created 1988 Ky. Acts ch. 23, sec. 71, effective January 1, 1989.