KRS 271B.6-030: Issued and outstanding shares.

(1) A corporation may issue the number of shares of each class or series authorized by

the articles of incorporation. Shares that are issued shall be outstanding shares until

they are reacquired, redeemed, converted, or canceled.

(2) The reacquisition, redemption, or conversion of outstanding shares shall be subject

to the limitations of subsection (3) of this section and to KRS 271B.6-400.

(3) At all times that shares of the corporation are outstanding, one (1) or more shares

that together have unlimited votin g rights and one (1) or more shares that together

are entitled to receive the net assets of the corporation upon dissolution shall be

outstanding.