{"data":{"id":"us-ky/krs-286.3-010","jurisdiction":"us-ky","citation":"KRS 286.3-010","heading":"Definitions for subtitle.","body":"As used in this subtitle, unless the context requires otherwise:\n(1) \"Articles of incorporation\" means the organizing records of a corporation filed and\nrecorded with the Secretary of State in accordance with KRS Chapter 271B or 275;\n(2) \"Bank\" or \"state bank\" means any bank or combined bank and trust company which\nis now or may hereafter be organized under the laws of this state;\n(3) \"Board of directors\" means the governing body of a corporation elected or\notherwise chosen by the shareholders, including th e managers of a limited liability\ncompany;\n(4) \"Capital stock\" means, at any particular time, the sum of:\n(a) The par value of all shares of a corporation having a par value that have been\nissued;\n(b) The amount of the consideration received by a corporation for all shares of the\ncorporation that have been issued without par value except any part of the\nconsideration that has been allocated to surplus in a manner permitted by law;\nand\n(c) Amounts not included in paragraph (a) or (b) of this subsection that have been\ntransferred to stated capital of a corporation, whether through the issuance of\nstock dividends, resolution of the board of directors under applicable\ncorporate law, or otherwise by law;\n(5) \"Charter\" means the record or records issued to a state  bank, trust company, out-of-\nstate bank, out -of-state trust company, or national bank by a chartering authority\nthat authorizes the bank or trust company to transact a banking, trust, or combined\nbanking and trust business;\n(6) \"Corporation\" means either a for -profit corporation or a for -profit limited liability\ncompany;\n(7) \"Director\" means a member of the board of directors;\n(8) \"Dividends\" means a distribution of money, stock, or other property to shareholders\nof a corporation;\n(9) \"Home state\" means:\n(a) With respect to a state bank, trust company, out -of-state bank, or out -of-state\ntrust company, the state in which the bank or trust company is organized; and\n(b) With respect to a national bank, the state in which the main off ice of the bank\nis located;\n(10) \"Home state regulator\" means, with respect to an out -of-state bank or out -of-state\ntrust company, the bank or trust supervisory agency of the state in which the bank\nor trust company is organized;\n(11) \"Host state\" means a state, other than its home state, in which:\n(a) A bank or trust company maintains, or seeks to establish and maintain, a\nbranch or office; or\n(b) A trust company conducts, or seeks to conduct, trust business;\n(12) \"National bank\" or \"national banking assoc iation\" means a bank created by\nCongress and organized pursuant to the provisions of federal law, including savings\nand loan associations;\n(13) \"Out-of-state bank\" means a bank organized under the laws of any state other than\nKentucky;\n(14) \"Out-of-state trust company\" means a corporation that is organized under the laws\nof a state other than Kentucky to engage in a trust business;\n(15) \"Shares\" means the shares of stock or the unit of equity into which the proprietary\ninterests of a corporation are divided;\n(16) \"Stock\" means a corporation's shares;\n(17) \"Stockholder\" or \"shareholder\" means an owner of a corporation's shares;\n(18) \"Surplus\" means, at any particular time, the sum of:\n(a) The amount of consideration received by a corporation for all shares is sued\nwithout par value that has not been allocated to capital stock;\n(b) The amount of consideration received by a corporation in excess of par value\nfor all shares with a par value; and\n(c) Amounts authorized by a corporation that have been transferred fr om\nundivided profits to surplus;\n(19) \"Trust company\" means any trust company which is now or may hereafter be\norganized under the laws of this state;\n(20) \"Trust representative office\" means an office at which a trust company or an out -of-\nstate trust comp any has been authorized by the commissioner to engage in a trust\nbusiness other than acting as a fiduciary; and\n(21) \"Undivided profits\" means the composite of a corporation's net retained earnings\nfrom current and prior years' operations.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=55141","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:10Z","sha256":"78864fd26984a81e9ebc49f83b7355de1b714db6bcf67877af0c4c23f63df073","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.2-990","next":"us-ky/krs-286.3-020"},"notice":"GroundRules: Original legal text. Not legal advice."}