{"data":{"id":"us-ky/krs-198a.230","jurisdiction":"us-ky","citation":"KRS 198A.230","heading":"Disposition of corporation assets upon termination or dissolution.","body":"Upon termination or dissolution, all rights and properties of the corporation shall pass to\nand be vested in the Commonwealth of Kentucky, subject to the rights of lienholders and\nother creditors, unless the board of directors directs at such times that th ey be distributed\namong one or more corporations, trusts, community chests, funds or foundations\norganized and operated exclusively for religious, charitable, scientific, literary, or\neducational purposes, no part of the net earnings of which inures to the  benefit of any\nprivate shareholder, member or individual and no substantial part of whose activities\nconsists of carrying on propaganda, or otherwise attempting to influence legislation.","path":["KRS Chapter 198A"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=6951","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:51:51Z","sha256":"844e3174ebae54b357644002eb5f485b2b967bc9180b68fd876647594c187bf4","source_id":"us-ky","stale":false,"prev":"us-ky/krs-198a.220","next":"us-ky/krs-198a.240"},"notice":"GroundRules: Original legal text. Not legal advice."}