{"data":{"id":"us-ky/krs-274.055","jurisdiction":"us-ky","citation":"KRS 274.055","heading":"Effect of chapter -- Liability.","body":"(1) Except as otherwise provided in this section, KRS 271B.6 -220 applies to a\ncorporation governed by this chapter.\n(2) The provisions of this chapter shall not alter any law applicable to, or otherwise\naffect the fiducial, confidential or ethical relationship  between a person rendering\nprofessional services and a person receiving such services. The corporation shall be\njointly and severally liable, with the tortfeasor, to the full value of its assets for any\nnegligent or wrongful acts or actionable misconduct committed by any of its\nofficers, shareholders, agents or employees while they are engaged on behalf of the\ncorporation in the rendering of professional service; provided, however, that no\nshareholder, director, officer or employee of a professional service corporation shall\nbe personally liable for the negligence, wrongful acts, or actionable misconduct of\nany other shareholder, director, officer, agent or employee nor shall such\nshareholder, director, officer or employee be personally liable for the contr actual\nobligations of the corporation.\n(3) Notwithstanding any contrary provisions of law, a corporation organized under this\nchapter may charge and collect fees for the professional services of its officers,\ndirectors, agents or employees, and may compens ate those who render such\nprofessional services.\n(4) Notwithstanding KRS 14A.9 -050(3), any foreign professional service corporation\ngranted a certificate of authority to conduct business within this state and those\npersons rendering professional services through it shall be subject to this section.","path":["KRS Chapter 274"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=39662","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:26Z","sha256":"1654c31a1dce706841bc1758e8c74dc66250ca10d2c6c8bc46e4214634f1ff54","source_id":"us-ky","stale":false,"prev":"us-ky/krs-274.050","next":"us-ky/krs-274.060"},"notice":"GroundRules: Original legal text. Not legal advice."}