Statutes, codes, and regulations
Kentucky Revised Statutes
Title 23 - PRIVATE CORPORATIONS AND ASSOCIATIONS
Chapter 275 - LIMITED LIABILITY COMPANIES
Section 275.540 - Involuntary dissolution of nonprofit limited liability company

Ky. Rev. Stat. § 275.540

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Current through Acts Received April 18, 2024
Section 275.540 - Involuntary dissolution of nonprofit limited liability company

A nonprofit limited liability company may be involuntarily dissolved by a decree of the Circuit Court in an action filed by the Attorney General when it is established that:

(1) The nonprofit limited liability company is guilty of abuse or misuse of its powers, privileges, or franchises, or the nonprofit limited liability company has become detrimental to the interest and welfare of this Commonwealth or its citizens; or
(2) The nonprofit limited liability company procured its articles of organization through fraud.

KRS 275.540

Effective:7/15/2010
Repealed and reenacted 2010, Ky. Acts ch. 51, sec. 13, effective7/15/2010. -- Created 2007, Ky. Acts ch. 137, sec. 13, effective 6/26/2007.