{"data":{"id":"us-ky/krs-279.070","jurisdiction":"us-ky","citation":"KRS 279.070","heading":"Bylaws -- Adoption and contents.","body":"(1) The incorporators of each corporation organized under this chapter shall adopt for\nits management bylaws not inconsistent with the powers granted by this chapter.\nThe written consent of a majority of the incorporators, evidenced by their signatures\nto the bylaws adopted, shall be necessary to the adoption of bylaws. The bylaws\nmay be amended by a majority vote of the board of directors.\n(2) The bylaws may provide for any or all of the following matters:\n(a) The time, place and manner of calling and conduc ting meetings of the\nmembers.\n(b) The number of members constituting a quorum.\n(c) The right of members to vote by proxy or by mail, or both, and the conditions,\nmanner, form and effect of such votes.\n(d) The number of directors constituting a quorum.\n(e) The qualifications, compensation, powers, duties and term of office of\ndirectors and officers, the time of their election and the manner of giving\nnotice thereof.\n(f) An executive committee and the allotment to that committee of any or all of\nthe func tions and powers of the board of directors, subject to the general\ndirection and control of the board.\n(g) The amount of entrance, organization and membership fees, if any, the\nmanner of collecting them and the purposes for which they may be used.\n(h) The qualifications of members of the corporation and the conditions precedent\nto membership; the time and manner of permitting members to withdraw; the\nmanner of assignment or transfer of the interest of a member; the conditions\nupon which and the time when membership of any member shall cease; the\nsuspension of the rights of a member when he ceases to be eligible to\nmembership in the corporation; the manner and effect of the expulsion of a\nmember; the manner of determining the value of a member's interest an d\nprovision for its purchase by the corporation upon the death or withdrawal of a\nmember or upon his expulsion or forfeiture of membership or, at the option of\nthe corporation, the purchase of the member's interest at a price fixed by\nappraisal by the boar d. The bylaws may provide that in case of the forced\nwithdrawal or expulsion of a member the board shall equitably appraise his\nproperty interest in the corporation and shall at its option fix the amount\nthereof in money or other property, which shall be p aid to him within one (1)\nyear after his expulsion or withdrawal.\n(i) Penalties for violation of the bylaws.\n(j) Any other matter relating to the operation or management of the corporation\nand not inconsistent with law or with the articles of incorporation.","path":["KRS Chapter 279"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14189","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:31Z","sha256":"c96ae331044a1adb799c1e30a131a8610b9f29cd70afe2872e16581114635c2f","source_id":"us-ky","stale":false,"prev":"us-ky/krs-279.060","next":"us-ky/krs-279.080"},"notice":"GroundRules: Original legal text. Not legal advice."}