Kentucky Statutes 271B.8-430 – Resignation and removal of officers
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(1) An officer may resign at any time by delivering notice to the corporation. A resignation shall be effective when the notice is delivered, unless the notice specifies a later effective date. If a resignation is made effective at a later date and the corporation accepts the future effective date, its board of directors may fill the pending vacancy before the effective date if the board of directors provides that the successor shall not take office until the effective date.
(2) A board of directors may remove any officer at any time with or without cause.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 92, effective January 1, 1989.
(2) A board of directors may remove any officer at any time with or without cause.
Terms Used In Kentucky Statutes 271B.8-430
- 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
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 92, effective January 1, 1989.