{"data":{"id":"us-ky/krs-99.140","jurisdiction":"us-ky","citation":"KRS 99.140","heading":"Restrictions on redevelopment corporations.","body":"No redevelopment corporation shall:\n(1) Undertake any clearance, reconstruction, improvement, alteration or construction in\nconnection with any development until the certificates of approval required by KRS\n99.040 to 99.060 have been issued;\n(2) Change, alter, amend, add to or depart from the development plan until the planning\ncommission or the supervising agency, as the case may be, has issued a certificate\nof approval of that portion of such change, alteration, amendment, addition or\ndeparture relevant t o the finding required to be made by it as set forth in KRS\n99.070;\n(3) After a development has been commenced, sell, transfer or assign any real property\nin the development area without first obtaining the consent of the planning\ncommission and the supervising agency;\n(4) Undertake more than one (1) development;\n(5) Pay dividends, if any, except out of net earnings;\n(6) Pay as compensation for services to, or enter into contracts for the payment of\ncompensation for services to, its officers or employees in an amount greater than the\nlimit thereon contained in the development plan, or in default thereof, then in an\namount greater than the reasonable value of the services performed or to be\nperformed by such officers or employees;\n(7) Lease an entire building  or improvement in the development area to any person or\ncorporation without obtaining the approval of the supervising agency, which may be\nwithheld only if the lease is being made for the purpose of evading the regulatory\nprovisions of KRS 99.010 to 99.310;\n(8) Mortgage any of its real property without obtaining the approval of the planning\ncommission and the supervising agency;\n(9) Make any guarantee without obtaining the approval of the supervising agency;\n(10) Dissolve without obtaining the approval of the supervising agency, which may be\ngiven upon such conditions as the supervising agency may deem necessary or\nappropriate to the protection of the interest of the city in the proceeds of the sale of\nthe real property acquired by condemnation as provided in KRS 99.120, such\napproval to be indorsed on the certificate of dissolution and such certificate not to\nbe filed in the Department of State in the absence of such indorsement; or\n(11) Reorganize without obtaining the approval of the supervising agency.","path":["KRS Chapter 99"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=26514","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:01Z","sha256":"e7c38ea2dff6e10e00f12ace5f50f93c424faac4d02bb9d9aa2d8586c3eba19b","source_id":"us-ky","stale":false,"prev":"us-ky/krs-99.130","next":"us-ky/krs-99.150"},"notice":"GroundRules: Original legal text. Not legal advice."}