272.390 Articles of incorporation -- What to set forth.

179 words·~1 min read·/ky/chapter-272/272-390

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Each association formed under KRS 272.360 to 272.510 must prepare and file articles of incorporation, setting forth:

(1)The name of the association that satisfies KRS 14A.3-010;

(2)The place where its principal business will be transacted;

(3)The term for which it is to exist; the number of directors thereof which must not be

less than five

(5)and may be any number in excess thereof; the term of office of

such directors; and the names and addresses of those who are to serve as

incorporating directors for the first term, or until election and qualification of their

successors; and

(4)The property rights of the members and whether the interest of each member will be

equal or unequal; and if unequal, the rule or rules applicable to all members by

which the property rights and interests, respectively, of each member shall be

determined and fixed; and provision for the admission of new members who shall

be entitled to share in the property of the association with the old members, in

accordance with such general rule or rules.