§ 155.001 Title
§ 155.010 Definitions
§ 155.020 Incorporation — Name — Purposes
§ 155.030 Powers of corporation
§ 155.040 Contents of articles of incorporation
§ 155.050 Approval of Governor — Effective date of incorporation
§ 155.060 First meeting
§ 155.070 Powers and limitations of other corporate bodies in relation to corporation
§ 155.080 Membership — Duty of members — Loan limit formula
§ 155.090 Distribution among members of loan call — Interest rate
§ 155.100 Duration of membership — Withdrawal
§ 155.110 Powers of members and stockholders — Voting
§ 155.120 Amendment of articles of incorporation
§ 155.130 Board of directors — Functions — Composition — Freedom from liability
§ 155.140 Required earned surplus
§ 155.150 Restrictions on deposits
§ 155.160 Regulation by state officials
§ 155.170 Excise tax on corporations — Report — Items free from taxation — Credit for losses
§ 155.180 Duration of corporation
§ 155.190 Effect of failure of any corporation to organize, or of organized corporation to begin doing business
§ 155.200 Credit of Commonwealth is not pledged
§ 155.210 Specified late charges for default of loan and litigation charges treated as liquidated damages
§ 155.220 Interest on judgment for collection or repayment of defaulted loan
§ 155.230 Reasonable attorneys’ fees, provision for
lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Kentucky Statutes > Chapter 155 - Business Development Corporations

  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. 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
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
  • Domestic: when applied to a corporation, partnership, business trust, or limited liability company, means all those incorporated or formed by authority of this state. See Kentucky Statutes 446.010
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Month: means calendar month. See Kentucky Statutes 446.010
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Quorum: The number of legislators that must be present to do business.
  • real estate: includes lands, tenements, and hereditaments and all rights thereto and interest therein, other than a chattel interest. See Kentucky Statutes 446.010