{"data":{"id":"us-ky/krs-155.140","jurisdiction":"us-ky","citation":"KRS 155.140","heading":"Required earned surplus.","body":"Each year the corporation shall set apart as earned surplus not less than ten percent (10%)\nof its net earnings for the preceding fiscal year until such surplus is equal in value to one -\nhalf (1/2) of the amount paid in on the capital stock then outstanding . Whenever the\namount of surplus established herein becomes impaired, it shall be built up again to the\nrequired amount in the manner provided for its original accumulation. Net earnings and\nsurplus shall be determined by the board of directors, after prov iding for such reserves as\nsaid directors deem desirable, and the directors' determination made in good faith shall be\nconclusive on all persons.","path":["KRS Chapter 155"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=3067","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:58Z","sha256":"f759ebd85307f3863f889cf414631cf3929ef8fd474d4ab71ab9cc97fef3451f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-155.130","next":"us-ky/krs-155.150"},"notice":"GroundRules: Original legal text. Not legal advice."}