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Current as of January 01, 2024 | Updated by FindLaw Staff
(1) A corporation may have one (1) or more classes of members or may have no members. If the corporation has one (1) or more classes of members, the designation of such class or classes, the manner of election or appointment and the qualifications and rights of the members of each class shall be set forth in the articles of incorporation or the bylaws. If the corporation has no members, that fact shall be set forth in the articles of incorporation or the bylaws. A corporation may issue certificates evidencing membership therein.
(2) Unless otherwise provided in the articles of incorporation, a director, officer, employee, or member of a corporation shall not be personally liable for the acts or debts of the corporation, except that the member may become personally liable by reason of his or her own acts or conduct.
Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXIII. Private Corporations and Associations § 273.187.Members - last updated January 01, 2024 | https://codes.findlaw.com/ky/title-xxiii-private-corporations-and-associations/ky-rev-st-sect-273-187/
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