Ky. Rev. Stat. » Chapter 154
Kentucky Revised Statutes

Ky. Rev. Stat. § 154.50-316 (2026)

Establishment of local industrial development authority

✓ current as of May 2026
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(1) Any governmental unit by act of its legislative body may establish a nonprofit industrial development authority to be composed of not less than six (6) and not more than eight (8) members.

(2) The authority shall be a body politic and corporate with the usual corporate attributes and in its corporate name may sue and be sued, contract and be contracted with, and do all things reasonable or necessary to effectively carry out the duties prescribed by KRS 154.50-301 to 154.50-346. Effective: July 15, 2002 History: Amended 2002 Ky. Acts ch. 104, sec. 1, effective July 15, 2002. -- Created 1970 Ky. Acts ch. 114, sec. 4. Formerly codified as KRS 152.830

Notes of Decisions
Cited in 2 cases, 1999–2001 · leading case: Kea-Ham Contracting, Inc. v. Floyd Cnty. Dev. Auth., 37 S.W.3d 703 (Ky. 2001).
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Kea-Ham Contracting, Inc. v. Floyd Cnty. Dev. Auth., 37 S.W.3d 703 (Ky. 2001). · cites it 2× “The Floyd County Development Authority is a non-profit entity created by Floyd County pursuant to KRS 154.50-316 to promote economic progress in the county by acquiring and developing land for industrial and commercial uses.”
Dannheiser v. City of Henderson, 4 S.W.3d 542 (Ky. 1999). “The majority opinion asserted that the Local Development Authority Act did not qualify as a comprehensive system of legislation on the same general subject because KRS 154.50-316(1) provided that any governmental unit by act of its legislative body may establish a nonprofit…”
— Ky. Rev. Stat. § 154.50-316(1) — 1 case
Dannheiser v. City of Henderson, 4 S.W.3d 542 (Ky. 1999). “The majority opinion asserted that the Local Development Authority Act did not qualify as a comprehensive system of legislation on the same general subject because KRS 154.50-316(1) provided that any governmental unit by act of its legislative body may establish a nonprofit…”
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