Any corporation formed under this chapter may issue its obligations and pledge its future revenues for the payment thereof. The obligations may be in the form of bonds, notes, debentures, interim certificates or other evidences of indebtedness. The obligations shall be authorized by the board of directors by a resolution which shall fix the dates of issuance and maturity, the rate and time of payment of interest, and denominations, the form (either coupon or registered), the registration privileges, the manner of execution, the place and medium of payment, and the terms of redemption. Any limitation as to interest or term of maturity otherwise provided by law shall not be applicable to obligations issued by a corporation organized under this chapter.
Effective: June 16, 1972

Terms Used In Kentucky Statutes 279.130

  • Board: means the board of directors of a corporation formed under this chapter. See Kentucky Statutes 279.010
  • 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.
  • Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
  • 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. See Kentucky Statutes 279.010

History: Amended 1972 Ky. Acts ch. 11, sec. 4, effective June 16, 1972. — Amended
1949 (1st Extra. Sess.) Ky. Acts ch. 9, sec. 1, effective March 30, 1949. — Amended
1942 Ky. Acts ch. 7, secs. 1 and 2. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 883j-17, 883j-18, 883j-19.

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