Ky. Rev. Stat. » Chapter 271
Kentucky Revised Statutes

Ky. Rev. Stat. § 271.230 (2026)

Repealed, 1946

✓ current as of May 2026
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Catchline at repeal: Corporate directors -- Qualifications -- Quorum. History: Repealed 1946 Ky. Acts ch. 141, sec. 1, effective July 1, 1946. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 551.

Notes of Decisions
Cited in 2 cases, 1943–1943 · leading case: Taylor v. Axton-Fisher Tobacco Co., 173 S.W.2d 377 (Ky. Ct. App. 1943).
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Taylor v. Axton-Fisher Tobacco Co., 173 S.W.2d 377 (Ky. Ct. App. 1943). “On first impression it would seem clear that the directors had a perfect right to change their minds, and that their action in modifying the first call for redemption was but a decision made in the course of management, well within the common law and statutory powers of a board…”
Kaye v. Kentucky Pub. Elevator Co., 175 S.W.2d 142 (Ky. Ct. App. 1943). “Several interesting legal questions relating to corporate management and dissolution are discussed in the briefs, but it does not seem necessary to treat them here. The Kentucky Statutes require that a director of a corporation “shall own in his own right not less than three…”
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