502.050 Corporate liability.

196 words·~1 min read·/ky/chapter-502/502-050

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

(1)A corporation is guilty of an offense when:

(a)The conduct constituting the offense consists of a failure to discharge a

specific duty imposed upon corporations by law; or

(b)The conduct constituting the offense is engaged in, authorized, commanded or

wantonly tolerated by the board of directors or by a high managerial agent

acting within the scope of his employment in behalf of the corporation; or

(c)The conduct constituting the offense is engaged in by an agent of the

corporation acting within the scope of his employment and in behalf of the

corporation and:

1. The offense is a misdemeanor or violation; or

2. The offense is one defined by a statute which clearly indicates a

legislative intent to impose such criminal liability on a corporation.

(2)As used in this section:

(a)"Agent" means any officer, director, servant or employee of the corporation or

any other person authorized to act in behalf of the corporation.

(b)"High managerial agent" means an officer of a corporation or any other agent

of a corporation who has duties of such responsibility that his conduct

reasonably may be assumed to represent the policy of the corporation.