{"data":{"id":"us-ky/krs-271b.6-230","jurisdiction":"us-ky","citation":"KRS 271B.6-230","heading":"Share dividends.","body":"(1) Unless the articles of incorporation provide otherwise, shares may be issued pro rata\nand without consideration to the corporation's shareholders or to the shareholders of\none (1) or more classes or series. An issuance of shares under this subsection shall\nbe considered a share dividend.\n(2) Shares of one (1) class or series may not be issued as a share dividend in respect of\nshares of another class or series unless:\n(a) The articles of incorporation so authorize;\n(b) A majority of the votes entitled to be cast by the class or series to be issued\napprove the issue; or\n(c) There are no outstanding shares of the class or series to be issued.\n(3) If the board of directors does not fix the record date for determining shareholders\nentitled to a share dividend, it  shall be the date the board of directors authorizes the\nshare dividend.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=13343","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:18Z","sha256":"b65d958f9dc54e015fadb95d3874407cb4f168a57582777c385fd238434f3457","source_id":"us-ky","stale":false,"prev":"us-ky/krs-271b.6-220","next":"us-ky/krs-271b.6-240"},"notice":"GroundRules: Original legal text. Not legal advice."}