{"data":{"id":"us-ky/krs-271b.8-030","jurisdiction":"us-ky","citation":"KRS 271B.8-030","heading":"Number and election of directors.","body":"(1) A board of directors shall consist of one (1) or more individuals, with the number\nspecified in or fixed in accordance with the articles of incorporation or bylaws.\n(2) If a board of directors has power to fix or change the number of directors, the board\nmay increase or decrease by thirty percent (30%) or less the number of directors last\napproved by the shareholders, but only the shareholders may increase or decrease by\nmore than thirty percent (30%) the number of directors last approved by the\nshareholders.\n(3) The articles of incorporation or bylaws may establish a variable range for the size of\nthe board of directors by fixing a minimum and maximum number of directors. If a\nvariable range is established, the number of directors may be fixed or changed fr om\ntime to time, within the minimum and maximum, by the shareholders or the board\nof directors. After shares are issued, only the shareholders may change the range for\nthe size of the board or change from a fixed to a variable -range size board or vice\nversa.\n(4) Directors shall be elected at the first annual shareholders' meeting and at each\nannual meeting thereafter unless their terms are staggered under KRS 271B.8-060.\n(5) Every director of a corporation, by acceptance of election or appointment as a\ndirector, including by service, shall be deemed to have consented to the jurisdiction\nof the courts of the Commonwealth of Kentucky for any action by, in the name of,\nor on behalf of the corporation.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40428","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:19Z","sha256":"0adde6d61985207cfeae1f8e1b2e0debc92ed2d7b6f08be20befa604ea34498d","source_id":"us-ky","stale":false,"prev":"us-ky/krs-271b.8-020","next":"us-ky/krs-271b.8-040"},"notice":"GroundRules: Original legal text. Not legal advice."}