KRS 271B.6-310: Corporation's acquisition of its own shares.

(1) A corporation may acquire its own shares and shares so acquired shall constitute

authorized but unissued shares.

(2) If the articles of incorporation prohibit the reissue of acquired shares, the number of

authorized shares shall be reduced by the number of shares acquired, effective upon

amendment of the articles of incorporation.

(3) Articles of amendment may be adopted by the board of directors without

shareholder action, and shall be delivered to the Secretary of State for filing, and

shall set forth:

(a) The name of the corporation;

(b) The reduction in the number of authorized shares, itemized by class and

series; and

(c) The total number of authorized shares, itemized by class and series, remaining

after reduction of the shares.