Last Action | to Judiciary (S) |
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Title | AN ACT relating to corporations. |
Bill Documents |
Bill
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Bill Request Number | 1841 |
Sponsor | S. Gregory |
Summary of Original Version | Establish KRS Chapter 273A and create subchapters and sections thereof to enact the "Kentucky Revised Nonprofit Corporation Act 2014"; provide for the creation, modification, termination, and administration of nonprofit corporations; enumerate steps of incorporation; provide procedures related to the adoption of bylaws; establish fee for filing documents with and allow for electronic transmission of documents to the office of the Secretary of State; address definitions, general provisions, and enumerated powers of a nonprofit corporation under this chapter; provide procedure for determining whether a nonprofit corporation has members; establish parliamentary procedure for meetings of a board including conference calls or other electronic means; establish standing requirements required for lawsuits against nonprofit corporation or directors; provide requirements related when third parties can bring suit against the corporation under certain circumstances; establish circumstances as to when the Attorney General can bring suit against a corporation or in relation to dissolution; provide notice procedure regarding members, directors, and other individuals; establish parliamentary procedures for voting; establish procedure for determining quorum requirements; provide procedure for the election; establish procedures related to indemnification; establish provisions related to the conveyance of property by a corporation, sale of assets, and payments to members or directors by the corporation; provide procedures related to distribution; establish provisions regarding dissolution; establish right and procedure to inspect corporation records; require conformity with the National Electronic Signature and Agreement Act; amend and repeal various sections of the Kentucky Revised Statutes to conform; establish KRS Chapter 273B and create sections thereof to enact the “Kentucky Unincorporated Nonprofit Association Act”; establish powers of unincorporated nonprofit association; address definitions, general provisions regarding the creation, modification, termination, and duties of members and managers; establish requirements of an association’s statement of authority; specify procedures for revocation of authority; establish procedures for filing certification of association with the Secretary of State; specify procedures related to management and control of association; provide and establish procedure for conveyance of interest in real, personal, or intangible property; provide for payment of dividends to members or managers; specify procedures for winding up and termination of association; amend and repeal various sections of the Kentucky Revised Statutes to conform; amend various provisions of KRS Chapter 275's “Kentucky LLC Act” to provide for the creation of nonprofit limited liability companies. |
Index Headings of Original Version |
Courts - Nonprofit Corporation Act, adoption of Courts - Nonprofit LLC, provide for the creation and administration Courts - Uniform Unincorporated Nonprofit Association Act, adoption of Fees - Nonprofit Corporation Act, filing with Office of Secretary of State, fees for Licensing - Nonprofit Corporation Act, adoption of Licensing - Nonprofit LLC, provide for the creation and administration Licensing - Uniform Unincorporated Nonprofit Association Act, adoption of Secretary of State - Nonprofit Corporation Act, adoption of Secretary of State - Nonprofit LLC, provide for the creation and administration Secretary of State - Uniform Unincorporated Nonprofit Association Act, adoption of Taxation, Income--Individual - Nonprofit Corporation Act, adoption of Taxation, Income--Individual - Nonprofit LLC, provide for the creation and administration Taxation, Income--Individual - Uniform Unincorporated Nonprofit Association Act, adoption of Administrative Regulations and Proceedings - Nonprofit Corporation Act, adoption of Administrative Regulations and Proceedings - Nonprofit LLC, provide for the creation and administration Administrative Regulations and Proceedings - Uniform Unincorporated Nonprofit Association Act, adoption of Attorney, Commonwealth's - Nonprofit Corporation Act, judicial proceedings Banks and Financial Institutions - Nonprofit Corporation Act, adoption of Banks and Financial Institutions - Nonprofit LLC, provide for the creation and administration Banks and Financial Institutions - Uniform Unincorporated Nonprofit Association Act, adoption of Charitable Organizations and Institutions - Nonprofit Corporation Act, adoption of Charitable Organizations and Institutions - Nonprofit LLC, provide for the creation and administration Charitable Organizations and Institutions - Uniform Unincorporated Nonprofit Association Act, adoption of Civil Actions - Nonprofit Corporation Act, adoption of Civil Actions - Nonprofit LLC, provide for the creation and administration Civil Actions - Uniform Unincorporated Nonprofit Association Act, adoption of Civil Procedure - Nonprofit Corporation Act, adoption of Civil Procedure - Nonprofit LLC, provide for the creation and administration Civil Procedure - Uniform Unincorporated Nonprofit Association Act, adoption of Corporations - Nonprofit Corporation Act, adoption of Corporations - Nonprofit LLC, provide for the creation and administration Corporations - Uniform Unincorporated Nonprofit Association Act, adoption of |
03/04/14 |
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03/06/14 |
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Last updated: 8/27/2019 6:52 PM (EDT)