(1) For purposes of this chapter, the following identified as a shareholder in a corporation‘s current record of shareholders shall constitute one (1) shareholder:
(a) Three (3) or fewer co-owners;

Terms Used In Kentucky Statutes 271B.1-420

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
  • Entity: includes a domestic or foreign corporation. See Kentucky Statutes 271B.1-400
  • Person: includes individual and entity. See Kentucky Statutes 271B.1-400
  • Shareholder: means the person in whose name shares are registered in the records of a corporation or the beneficial owner of shares to the extent of the rights granted by a nominee certificate on file with a corporation. See Kentucky Statutes 271B.1-400

(b) A corporation, partnership, trust, estate, or other entity;
(c) The trustees, guardians, custodians, or other fiduciaries of a single trust, estate, or account.
(2) For purposes of this chapter, shareholdings registered in substantially similar names shall constitute one (1) shareholder if it is reasonable to believe that the names represent the same person.
Effective: January 1, 1989
History: Created 1988 Ky. Acts ch. 23, sec. 14, effective January 1, 1989.

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