{"data":{"id":"us-ky/krs-271b.6-310","jurisdiction":"us-ky","citation":"KRS 271B.6-310","heading":"Corporation's acquisition of its own shares.","body":"(1) A corporation may acquire its own shares and shares so acquired shall constitute\nauthorized but unissued shares.\n(2) If the articles of incorporation prohibit the reissue of acquired shares, the number of\nauthorized shares shall be reduced by the number of  shares acquired, effective upon\namendment of the articles of incorporation.\n(3) Articles of amendment may be adopted by the board of directors without\nshareholder action, and shall be delivered to the Secretary of State for filing, and\nshall set forth:\n(a) The name of the corporation;\n(b) The reduction in the number of authorized shares, itemized by class and\nseries; and\n(c) The total number of authorized shares, itemized by class and series, remaining\nafter reduction of the shares.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=13350","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:18Z","sha256":"0a83431242347d1f28162f3dd3e293308abd289bc0ef5747fbe8155e122b33eb","source_id":"us-ky","stale":false,"prev":"us-ky/krs-271b.6-300","next":"us-ky/krs-271b.6-400"},"notice":"GroundRules: Original legal text. Not legal advice."}