{"data":{"id":"us-ky/krs-299.240","jurisdiction":"us-ky","citation":"KRS 299.240","heading":"Fixing amount and shares of capital stock -- Sale of stock.","body":"(1) At the meeting to change the form of the company, if the proposed change is\napproved, the amount of the capital stock of the reorganized company shall be fixed\nwithin the limits prescribed by law for companies of the type to which the change is\nmade, and t he par value of the shares and the number of shares into which the\ncapital stock is to be divided shall be determined.\n(2) The policyholders of the assessment or cooperative company shall have the first\nright to subscribe for stock, subject to such equita ble regulations as the directors\nmay prescribe. All subscriptions for shares of stock shall be paid for in cash and at a\nprice not less than par.","path":["KRS Chapter 299"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=15846","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:27Z","sha256":"f434a416ad4e57173e753998b767a9eedcb3a5a3f2ecfe1e98dabd4b6769426a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-299.230","next":"us-ky/krs-299.250"},"notice":"GroundRules: Original legal text. Not legal advice."}