274.055 Effect of chapter -- Liability.

229 words·~1 min read·/ky/chapter-274/274-055

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

(1)Except as otherwise provided in this section, KRS 271B.6-220 applies to a

corporation governed by this chapter.

(2)The provisions of this chapter shall not alter any law applicable to, or otherwise

affect the fiducial, confidential or ethical relationship between a person rendering

professional services and a person receiving such services. The corporation shall be

jointly and severally liable, with the tortfeasor, to the full value of its assets for any

negligent or wrongful acts or actionable misconduct committed by any of its

officers, shareholders, agents or employees while they are engaged on behalf of the

corporation in the rendering of professional service; provided, however, that no

shareholder, director, officer or employee of a professional service corporation shall

be personally liable for the negligence, wrongful acts, or actionable misconduct of

any other shareholder, director, officer, agent or employee nor shall such

shareholder, director, officer or employee be personally liable for the contractual

obligations of the corporation.

(3)Notwithstanding any contrary provisions of law, a corporation organized under this

chapter may charge and collect fees for the professional services of its officers,

directors, agents or employees, and may compensate those who render such

professional services.

(4)Notwithstanding KRS 14A.9-050(3), any foreign professional service corporation

granted a certificate of authority to conduct business within this state and those

persons rendering professional services through it shall be subject to this section.