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

Ky. Rev. Stat. § 271A.245 (2026)

Repealed, effective January 1, 1989

✓ laws through the 2026 session (checked Sept. 2026)
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Catchline at repeal: Provisions relating to actions by shareholders. History: Repealed 1988 Ky. Acts ch. 23, sec. 248, effective January 1, 1989. -- Created 1972 Ky. Acts ch. 274, sec. 49.

Notes of Decisions
Cited in 2 cases, 1979–1987 · leading case: Liberty Nat'l Bank & Trust Co. of Louisville v. Foster, 737 S.W.2d 704 (Ky. Ct. App. 1987).
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Liberty Nat'l Bank & Trust Co. of Louisville v. Foster, 737 S.W.2d 704 (Ky. Ct. App. 1987). “See KRS 271A.245 which provides in part, "No derivative action shall be brought .”
Nelson v. Gammon, 478 F. Supp. 630 (W.D. Ky. 1979). “The complaint set forth the futility of seeking relief from the defendant-directors, thus satisfying KRS 271A.245. Generally: “. . .a stockholder’s derivative suit must state a cause of action existing in favor of the corporate entity itself.”
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