Kentucky Statutes 279.010 – Definitions
Current as of: 2024 | Check for updates
|
Other versions
As used in this chapter, unless the context requires otherwise:
(1) “Acquire” means to construct, purchase, obtain by lease, devise, gift, or by eminent domain, or to obtain by any other lawful means;
(2) “Board” means the board of directors of a corporation formed under this chapter;
(3) “Business entity” means a domestic and foreign limited liability company, corporation, general partnership, limited partnership, business or statutory trust, and not-for-profit unincorporated association;
(4) “Corporation” means a profit or nonprofit corporation formed under the laws of any state or a foreign country;
(5) “Farm Credit Act” means Section 12 of the Federal Farm Credit Act of 1935 and the amendments thereto;
(6) “Federal agency” means and includes the United States, the President of the United States, and all federal authorities, instrumentalities and agencies in the ordinary sense;
(7) “Improve” means to construct, reconstruct, extend, enlarge, alter, better, or repair;
(8) “Member” means and includes each person signing the articles of incorporation of a corporation formed under this chapter, each person later admitted to membership according to law or according to the articles of incorporation or bylaws of the corporation, and each common stockholder in a corporation organized under this chapter that has capital stock;
(9) “Name of record with the Secretary of State” means any real, fictitious, reserved, registered, or assumed name of a business entity;
(10) “Obligations” means and includes negotiable bonds, notes, debentures, interim certificates or receipts and all other evidences of indebtedness either issued or the payment thereof assumed by a corporation organized under this chapter;
(11) “Real name” shall have the meaning set forth in KRS § 365.015; and
(12) “System” means and includes any plant, works, facilities, and properties, and all parts thereof and appurtenances thereto, used or useful in the generation, production, transmission, or distribution of electric energy.
Effective: July 15, 2010
History: Repealed and reenacted 2010 Ky. Acts ch. 51, sec. 131, effective July 15,
2010. — Amended 2007 Ky. Acts ch. 137, sec. 131, effective June 26, 2007. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 883j-2.
Legislative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183, provides, “The specific textual provisions of Sections 1 to 178 of this Act which reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed effective as of June 26, 2007, and those provisions are hereby made expressly retroactive to that date, with the remainder of the text of those sections being unaffected by the provisions of this section.”
Legislative Research Commission Note (6/26/2007). 2007 Ky. Acts ch. 137, sec. 131, subsection (11) cited “Section 164 of this Act.” It is apparent from context that the section referred to should have been Section 163 of the Act, KRS § 365.015. The
Reviser of Statutes has made this change under the authority of KRS § 7.136.
(1) “Acquire” means to construct, purchase, obtain by lease, devise, gift, or by eminent domain, or to obtain by any other lawful means;
Terms Used In Kentucky Statutes 279.010
- Board: means the board of directors of a corporation formed under this chapter. See Kentucky Statutes 279.010
- Company: may extend and be applied to any corporation, company, person, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Corporation: means a profit or nonprofit corporation formed under the laws of any state or a foreign country. See Kentucky Statutes 279.010
- 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.
- Devise: To gift property by will.
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- Domestic: when applied to a corporation, partnership, business trust, or limited liability company, means all those incorporated or formed by authority of this state. See Kentucky Statutes 446.010
- Farm Credit Act: means Section 12 of the Federal Farm Credit Act of 1935 and the amendments thereto. See Kentucky Statutes 279.010
- Federal: refers to the United States. See Kentucky Statutes 446.010
- Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Partnership: includes both general and limited partnerships. See Kentucky Statutes 446.010
- Person: means any natural person, firm, association, corporation, business trust, or partnership. See Kentucky Statutes 279.310
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(2) “Board” means the board of directors of a corporation formed under this chapter;
(3) “Business entity” means a domestic and foreign limited liability company, corporation, general partnership, limited partnership, business or statutory trust, and not-for-profit unincorporated association;
(4) “Corporation” means a profit or nonprofit corporation formed under the laws of any state or a foreign country;
(5) “Farm Credit Act” means Section 12 of the Federal Farm Credit Act of 1935 and the amendments thereto;
(6) “Federal agency” means and includes the United States, the President of the United States, and all federal authorities, instrumentalities and agencies in the ordinary sense;
(7) “Improve” means to construct, reconstruct, extend, enlarge, alter, better, or repair;
(8) “Member” means and includes each person signing the articles of incorporation of a corporation formed under this chapter, each person later admitted to membership according to law or according to the articles of incorporation or bylaws of the corporation, and each common stockholder in a corporation organized under this chapter that has capital stock;
(9) “Name of record with the Secretary of State” means any real, fictitious, reserved, registered, or assumed name of a business entity;
(10) “Obligations” means and includes negotiable bonds, notes, debentures, interim certificates or receipts and all other evidences of indebtedness either issued or the payment thereof assumed by a corporation organized under this chapter;
(11) “Real name” shall have the meaning set forth in KRS § 365.015; and
(12) “System” means and includes any plant, works, facilities, and properties, and all parts thereof and appurtenances thereto, used or useful in the generation, production, transmission, or distribution of electric energy.
Effective: July 15, 2010
History: Repealed and reenacted 2010 Ky. Acts ch. 51, sec. 131, effective July 15,
2010. — Amended 2007 Ky. Acts ch. 137, sec. 131, effective June 26, 2007. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 883j-2.
Legislative Research Commission Note (7/15/2010). 2010 Ky. Acts ch. 51, sec. 183, provides, “The specific textual provisions of Sections 1 to 178 of this Act which reflect amendments made to those sections by 2007 Ky. Acts ch. 137 shall be deemed effective as of June 26, 2007, and those provisions are hereby made expressly retroactive to that date, with the remainder of the text of those sections being unaffected by the provisions of this section.”
Legislative Research Commission Note (6/26/2007). 2007 Ky. Acts ch. 137, sec. 131, subsection (11) cited “Section 164 of this Act.” It is apparent from context that the section referred to should have been Section 163 of the Act, KRS § 365.015. The
Reviser of Statutes has made this change under the authority of KRS § 7.136.