{"data":{"id":"us-ky/krs-272.203","jurisdiction":"us-ky","citation":"KRS 272.203","heading":"Liability of shareholder or member.","body":"(1) A purchaser from an association of its own shares shall not be liable to the\nassociation or its creditors with respect to the shares except to pay the consideration\nfor which the shares were authorized to be issued or specified in the subscription\nagreement.\n(2) Unless otherwise provided in the articles of incorporation, a shareholder or a\nmember of an association shall not be personally liable for the acts or debts of the\nassociation, except that he or she may become personally liable by reason of his or\nher own acts or conduct.","path":["KRS Chapter 272"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=13530","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:21Z","sha256":"c3d6477ab3511b9991e86742e242d07219f47b9348ff39ca566a677c07dc3b76","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272.201","next":"us-ky/krs-272.205"},"notice":"GroundRules: Original legal text. Not legal advice."}