Transition Provisions

KRS tit. XXIII, ch. 271B, subtit. 17

in effect

KRS 271B.17-010 Application of chapter

271B.17-010. Application of chapter (1) This chapter shall apply to any corporation formed under the laws of this state unless the statutes relating to a corporation of that kind either are inconsistent with this chapter or state that the provisions of this chapter do not apply to it. (2) Subject to the provisions of subsection (1) of this section, corporations may be organized under this chapter for any lawful purpose or purposes. Effective: January 1, 1989 History: Created 1988 Ky. Acts ch. 23, sec. 191, effective January 1, 1989.

KRS 271B.17-020 Application to qualified foreign corporations

271B.17-020. Application to qualified foreign corporations A foreign corporation authorized to transact business in this state on January 1, 1989, shall be subject to this chapter but shall not be required to obtain a new certificate of authority to transact business under this chapter. Effective: January 1, 1989 History: Created 1988 Ky. Acts ch. 23, sec. 192, effective January 1, 1989.

KRS 271B.17-030 Savings provisions

271B.17-030. Savings provisions (1) Except as provided in subsection (2) of this section, the repeal of a statute by 1988 Acts Ch. 23, sec. 248 does not affect: (a) The operation of the statute or any action taken under it before its repeal; (b) Any ratification, right, remedy, privilege, obligation, or liability acquired, accrued, or incurred under the statute before its repeal; (c) Any violation of the statute, or any penalty, forfeiture, or punishment incurred because of the violation, before its repeal; or (d) Any proceeding, reorganization or dissolution commenced under the statute before its repeal, and the proceeding, reorganization, or dissolution may be completed in accordance with the statute as if it had not been repealed. (2) If a penalty or punishment imposed for violation of a statute repealed by 1988 Acts Ch. 23, sec. 248 is reduced by this chapter, the penalty or punishment if not already imposed shall be imposed in accordance with this chapter. Effective: January 1, 1989 History: Created 1988 Ky. Acts ch. 23, sec. 193, effective January 1, 1989.

KRS 271B.17-040 Severability of provisions

271B.17-040. Severability of provisions If any provision of this chapter or its application to any person or circumstances is held invalid by a court of competent jurisdiction, the invalidity does not affect other provisions or applications of this chapter that can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severable. Effective: January 1, 1989 History: Created 1988 Ky. Acts ch. 23, sec. 84, effective January 1, 1989.

KRS 271B.17-050 Acceleration and applicability of effective date

271B.17-050. Acceleration and applicability of effective date (1) On January 1, 1989, and thereafter, this chapter shall apply to all domestic corporations in existence on the effective date that were incorporated under the present statutes or any prior law and those incorporated on or after January 1, 1989, to the extent provided in KRS 271B.17-010. (2) Before January 1, 1989, the provisions of this chapter shall not apply to any domestic corporation except in accordance with the following: (a) The corporation's board of directors may adopt a resolution electing to have the provisions of this chapter (except for KRS 271B.1-220, 271B.2-010, 271B.2-030 to 271B.2-070, 271B.3-010 and 271B.16-220) apply to the corporation. (b) The resolution shall specify a date (after July 15, 1988, and before January 1, 1989) on and after which the provisions will apply to the corporation. (c) The resolution shall be filed in the office of the Secretary of State before the date specified in subsection (2)(b) of this section. (3) The provisions of this chapter (except for KRS 271B.1-220, 271B.2-010, 271B.2- 030 to 271B.2-070, 271B.3-010 and 271B.16-220) apply to each domestic corporation that complies with all the conditions prescribed in subsection (2) of this section. In addition, such a corporation shall continue to comply with the requirements of KRS 271A.396, 271A.397, 271A.398, 271A.399, 271A.615, 271A.620, 271A.625, 271A.630, and 271A.635 until January 1, 1989, but it is not subject to the provisions of KRS 271A.010 to 271A.395; KRS 271A.400 to 271A.610; and KRS 271A.640 to 271A.675. Effective: January 1, 1989 History: Created 1988 Ky. Acts ch. 23, sec. 194, effective January 1, 1989.

Source: Kentucky Legislative Research Commission (legislature.ky.gov)URL: https://apps.legislature.ky.gov/law/statutes/chapter.aspx?id=38564Fetched: 10/20/2026