{"data":{"id":"us-ky/krs-271b.8-500","jurisdiction":"us-ky","citation":"KRS 271B.8-500","heading":"Definitions for KRS 271B.8-510 to 271B.8-580.","body":"As used in KRS 271B.8-510 to 271B.8-580:\n(1) \"Corporation\" includes any domestic or foreign predecessor entity of a corporation\nin a merger or other transaction in which the predecessor's existence ceased upon\nconsummation of the transaction.\n(2) \"Director\" means an individual who is or was a director of a corporation or an\nindividual, while a director of a corporation, is or was serving at the corporation's\nrequest as a director, officer, partner, trustee, employee, or agent of another foreign\nor domestic corporation, partnership, joint venture, trust, employee benefit plan, or\nother enterprise. A director shall be considered to be serving an employee benefit\nplan at the corporation's request if his duties to the corporation also impose duties\non, or otherw ise involve services by, him to the plan or to participants in or\nbeneficiaries of the plan. \"Director\" includes, unless the context requires otherwise,\nthe estate or personal representative of a director.\n(3) \"Expenses\" include counsel fees.\n(4) \"Liability\" means the obligation to pay a judgment, settlement, penalty, fine\n(including an excise tax assessed with respect to an employee benefit plan), or\nreasonable expenses incurred with respect to a proceeding.\n(5) \"Official capacity\" means:\n(a) When used wit h respect to a director, the office of director in a corporation;\nand\n(b) When used with respect to an individual other than a director, as contemplated\nin KRS 271B.8 -560, the office in a corporation held by the officer or the\nemployment or agency relation ship undertaken by the employee or agent on\nbehalf of the corporation. \"Official capacity\" shall not include service for any\nother foreign or domestic corporation or any partnership, joint venture, trust,\nemployee benefit plan, or other enterprise.\n(6) \"Party\" includes an individual who was, is, or is threatened to be made a named\ndefendant or respondent in a proceeding.\n(7) \"Proceeding\" means any threatened, pending, or completed action, suit, or\nproceeding, whether civil, criminal, administrative, or inve stigative and whether\nformal or informal.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=13398","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:19Z","sha256":"c39a831eb0a79198544578bd6892f2d5424dc0c7c5383c76e33552b83ffe789c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-271b.8-440","next":"us-ky/krs-271b.8-510"},"notice":"GroundRules: Original legal text. Not legal advice."}