{"data":{"id":"us-ky/krs-271b.6-220","jurisdiction":"us-ky","citation":"KRS 271B.6-220","heading":"Liability of shareholders.","body":"(1) A purchaser from a corporation of its own shares shall not be liable to the\ncorporation or its creditors with respect to the shares except to pay the consideration\nfor which the shares were authorized to be issued or specified in the subscription\nagreement.\n(2) Unless otherwise provided in the articles of incorporation, a shareholder of a\ncorporation shall not be personally liable for the acts or debts of the corporation\nexcept that he or she may become personally liable by reason of his own acts or\nconduct.\n(3) That a corporation has a single shareholder is not a basis for setting aside the rule\nrecited in subsection (2) of this section.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40427","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:18Z","sha256":"29adfe6a67b5deba59098f3daeb53ef81c22b8dd56d470af6e08786162bb0de3","source_id":"us-ky","stale":false,"prev":"us-ky/krs-271b.6-210","next":"us-ky/krs-271b.6-230"},"notice":"GroundRules: Original legal text. Not legal advice."}