{"data":{"id":"us-ky/krs-271b.16-210","jurisdiction":"us-ky","citation":"KRS 271B.16-210","heading":"Other reports to shareholders -- Other requirements of a public","body":"benefit corporation.\n(1) If a corporation indemnifies or advances expenses to a director under KRS\n271B.8-510 to 271B.8-540 in connection with a proceeding by or in the right of\nthe corporation, the corporation shall report the indemnification or advance in\nwriting to the shareholders with or before the notice of the next shareholders'\nmeeting.\n(2) A public benefit corporation shall no less than annually provide its stockholders\nwith a statement as to the corporation's promotion of the public benefit or public\nbenefits identified in the articles of incorporation and of the best interests of\nthose materially affected by the corporation's conduct. The statement shall\ninclude:\n(a) The objectives that the board of directors has established to promote the\npublic benefit or public benefits and interests;\n(b) The  standards that the board of directors has adopted to measure the\ncorporation's progress in promoting the public benefit or public benefits\nand interests;\n(c) Objective factual information based on those standards regarding the\ncorporation's success in meeting the objectives for promoting the public\nbenefit or public benefits and interests; and\n(d) An  assessment of the corporation's success in meeting the objectives\nand promoting the public benefit or public benefits and interests.\n(3) The  articles of incorporation or bylaws of a public benefit corporation may\nrequire that the corporation:\n(a) Make  the statement described in subsection (2) of this section available\nto the public; or\n(b) Use  a third-party standard in connection with, or attain a periodic\nthird-party certification addressing, the corporation's promotion of the\npublic benefit or public benefits identified in the articles of incorporation or\nthe  best interests of those materially affected by the corporation's\nconduct.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=45783","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:20Z","sha256":"cd9c32a3a97c67ef281dd22291289439490d7272aafbb76c283a795c1b02ceec","source_id":"us-ky","stale":false,"prev":"us-ky/krs-271b.16-200","next":"us-ky/krs-271b.16-220"},"notice":"GroundRules: Original legal text. Not legal advice."}