279.010 Definitions.

301 words·~1 min read·/ky/chapter-279/279-010

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

As used in this chapter, unless the context requires otherwise:

(1)"Acquire" means to construct, purchase, obtain by lease, devise, gift, or by eminent

domain, or to obtain by any other lawful means;

(2)"Board" means the board of directors of a corporation formed under this chapter;

(3)"Business entity" means a domestic and foreign limited liability company,

corporation, general partnership, limited partnership, business or statutory trust, and

not-for-profit unincorporated association;

(4)"Corporation" means a profit or nonprofit corporation formed under the laws of any

state or a foreign country;

(5)"Farm Credit Act" means Section 12 of the Federal Farm Credit Act of 1935 and the

amendments thereto;

(6)"Federal agency" means and includes the United States, the President of the United

States, and all federal authorities, instrumentalities and agencies in the ordinary

sense;

(7)"Improve" means to construct, reconstruct, extend, enlarge, alter, better, or repair;

(8)"Member" means and includes each person signing the articles of incorporation of a

corporation formed under this chapter, each person later admitted to membership

according to law or according to the articles of incorporation or bylaws of the

corporation, and each common stockholder in a corporation organized under this

chapter that has capital stock;

(9)"Name of record with the Secretary of State" means any real, fictitious, reserved,

registered, or assumed name of a business entity;

(10)"Obligations" means and includes negotiable bonds, notes, debentures, interim

certificates or receipts and all other evidences of indebtedness either issued or the

payment thereof assumed by a corporation organized under this chapter;

(11)"Real name" shall have the meaning set forth in KRS 365.015; and

(12)"System" means and includes any plant, works, facilities, and properties, and all

parts thereof and appurtenances thereto, used or useful in the generation,

production, transmission, or distribution of electric energy.