Kentucky Statutes 273.320 – Involuntary dissolution
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A corporation may be dissolved involuntarily by a decree of the Circuit Court in an action filed by the Attorney General when it is established that:
(1) The corporation is guilty of abuse or misuse of its corporate powers, privileges or franchises, or the corporation has become detrimental to the interest and welfare of the Commonwealth of Kentucky or its citizens; or
(2) The corporation procured its articles of incorporation through fraud; or
(3) The corporation has failed to file its annual report as required by KRS § 14A.6-010;
or
(4) The corporation has failed to appoint and maintain a registered agent in this state; or
(5) The corporation has failed after change of its registered agent to file in the office of the Secretary of State a statement of such change.
Effective: January 1, 2011
History: Amended 2010 Ky. Acts ch. 151, sec. 125, effective January 1, 2011. — Amended 1988 Ky. Acts ch. 23, sec. 246, effective January 1, 1989. — Created 1968
Ky. Acts ch. 165, sec. 50.
(1) The corporation is guilty of abuse or misuse of its corporate powers, privileges or franchises, or the corporation has become detrimental to the interest and welfare of the Commonwealth of Kentucky or its citizens; or
Terms Used In Kentucky Statutes 273.320
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Attorney: means attorney-at-law. See Kentucky Statutes 446.010
- 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
- Fraud: Intentional deception resulting in injury to another.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(2) The corporation procured its articles of incorporation through fraud; or
(3) The corporation has failed to file its annual report as required by KRS § 14A.6-010;
or
(4) The corporation has failed to appoint and maintain a registered agent in this state; or
(5) The corporation has failed after change of its registered agent to file in the office of the Secretary of State a statement of such change.
Effective: January 1, 2011
History: Amended 2010 Ky. Acts ch. 151, sec. 125, effective January 1, 2011. — Amended 1988 Ky. Acts ch. 23, sec. 246, effective January 1, 1989. — Created 1968
Ky. Acts ch. 165, sec. 50.