{"data":{"id":"us-ky/krs-271b.8-010","jurisdiction":"us-ky","citation":"KRS 271B.8-010","heading":"Requirement for and duties of board of directors.","body":"(1) Except as provided in subsection (3) of this section, each corporation shall have a\nboard of directors.\n(2) All corporate powers shall be exercised by or under the authority of, and the\nbusiness and affairs of the corporation managed under the direction of , its board of\ndirectors, subject to any limitation set forth in the articles of incorporation.\n(3) A corporation having fifty (50) or fewer shareholders may dispense with or limit the\nauthority of a board of directors by describing in its articles of inco rporation who\nwill perform some or all of the duties of a board of directors.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=13372","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:18Z","sha256":"fa8c58ee0bf357d381ab065c287fd755a637dbc716f973bf0cd253667ca7eb02","source_id":"us-ky","stale":false,"prev":"us-ky/krs-271b.7-400","next":"us-ky/krs-271b.8-020"},"notice":"GroundRules: Original legal text. Not legal advice."}