Senate Bill 150 (2010)

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Senate Bill 150 (or BR 1469 2010) was introduced on February 8, 2010 by Representative Tom Jenson to the 2010 General Assembly.

It is an act relating to business entities.

Senate Bill 150 proposes to create and amend various KRS sections relating to corporations, partnerships, and LLCs to provide that limited liability provisions with those sections assign all personal responsibility for a person's negligent or other wrongful acts to the person; clarify filing requirements and due dates for annual reports and business dissolutions; provide greater specificity as to the listing of corporate officers; allow court-ordered meetings of a board of directors; allow conversion of a PSC to a business corporation; create greater consistency of a disinterestedness requirement in certain votes in an LLC; create greater consistency of the rights of the holder of a charging order; create greater consistency of the rights of the holder of a charging order; establish a consistent address for mailing notices of administrative dissolution or the revocation of a certificate of authority, provide clarification as to the effect of a merger involving an LLC; address the ability of a member in a member-managed LLC to resign and thereby on a prospective basis terminate fiduciary obligations; repeal KRS 275.340.[1]



  1. SB 150 on