271B. 18-070 Additional penalties for violation of KRS 506.010, 506.030, 506.040, 521.020, or 521.050. (1) If a domestic corporation is convicted of a violation of KRS 506.010, 506.030, 506.040, 521.020, or 521.050, or if an officer, employee, or agent of the corporation is convicted of violating any section specified above under circumstances which bring corporate liability under KRS 502.050(1)(b), the court shall order that the charter of the corporation be suspended for a period of not more than five (5) yea rs for a first offense, ten (10) years for a second offense, and permanently for a third or subsequent offense. (2) If a foreign corporation is convicted of a violation of any section specified in subsection (1) of this section, or if an officer, employee, or agent of the corporation is convicted of violating any section specified in subsection (1) of this section under circumstances which bring corporate liability under KRS 502.050(1)(b), the court shall order that the corporation not be permitted to do bu siness in Kentucky for the appropriate period specified in subsection (1) of this section. rate liability under KRS 502.050(1)(b), the court shall order that the corporation not be permitted to do bu siness in Kentucky for the appropriate period specified in subsection (1) of this section. (3) The penalties specified in this section shall be in addition to any other penalty specified by law for the commission of the offenses listed in subsection (1) of this section. Effective: July 15, 1994 History: Created 1994 Ky. Acts ch. 477, sec. 6, effective July 15, 1994.
Kentucky Legal Code