When a fine is imposed on a corporation, it is the duty of the person or persons authorized to make disbursement of the assets of the corporation and their superiors to pay the fine from assets of the corporation. The failure of such persons to do so shall render them subject to imprisonment under subsections (1) and (2) of this section.
Effective:June 29, 2017

Terms Used In Kentucky Statutes 534.060

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
  • 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.

History: Amended 2017 Ky. Acts ch. 158, sec. 5, effective June 29, 2017. — Amended 2012 Ky. Acts ch. 156, sec. 4, effective July 12, 2012. — Created 1974
Ky. Acts ch. 406, sec. 295, effective January 1, 1975.