{"data":{"id":"us-ky/krs-274.017","jurisdiction":"us-ky","citation":"KRS 274.017","heading":"Restricted issuance and transfer of shares.","body":"(1) A professional service corporation may issue and a shareholder thereof may transfer\nor pledge shares, fractional shares, and rights or options to purchase shares only to:\n(a) A natural person who is authorized by law in this state or in any other state or\nterritory of the United States or the District of Columbia to render a\nprofessional service permitted by the articles of incorporation of the\ncorporation;\n(b) A partnership, domestic or foreign, in which all the partners are qualified\npersons with respect to such professional corporation and in which at least one\n(1) partner is authorized by the laws of this state to render a professional\nservice permitted by the articles of incorporation of the corporation;\n(c) A professional limited liability company, dom estic or foreign, authorized by\nlaw in this state to render a professional service permitted by the articles of\norganization of the limited liability company and the articles of incorporation\nof the corporation; or\n(d) A professional service corporation, d omestic or foreign, authorized by law in\nthis state to render a professional service permitted by the articles of\nincorporation of each corporation.\n(2) Any issuance, transfer, or pledge of shares, fractional shares, or rights or options to\npurchase shares in violation of this section shall be void; however, nothing herein\ncontained shall prohibit the transfer of shares of a professional corporation by\noperation of law or court decree.","path":["KRS Chapter 274"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=13783","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:26Z","sha256":"b033b53c986785575ad2a6f31a35b111e8ba641b5d8cdfa34e10e95c2d12e6e2","source_id":"us-ky","stale":false,"prev":"us-ky/krs-274.015","next":"us-ky/krs-274.019"},"notice":"GroundRules: Original legal text. Not legal advice."}