274.027 Qualifications of officers and members of board -- Voting. (1) Not less than one -half (1/2) of the directors of a professional service corporation and all the officers other than the secretary and the treasurer shall be qualified persons with respect to the corporation. (2) Those members of the board of directors of a professional service corporation not qualified within the meaning of KRS 274.015 shall abstain from voting on measures before the board which deal exclusively with the art of the professional service or services rendered as opposed to measures relating t o the general business operation of the corporation. Effective: July 15, 1980 History: Created 1980 Ky. Acts ch. 288, sec. 5, effective July 15, 1980.
Kentucky Legal Code