Kentucky Clauses Relating to Powers of Venture are provisions or sections within a legal document in Kentucky that define and regulate the powers granted to a venture or business entity. These clauses outline the range of actions and authority that a venture may exercise within the confines of the state's laws. They help establish the parameters of operation, decision-making, and management for the venture. There are several types of Kentucky Clauses Relating to Powers of Venture that are commonly included in legal documents: 1. Powers of General Management: This clause defines the general powers granted to the venture's management team, allowing them to make decisions on behalf of the business within the parameters of state law. It may include powers such as hiring and firing employees, acquiring assets, entering contracts, and managing day-to-day operations. 2. Financial Powers: This clause outlines the financial powers a venture possesses, including the ability to obtain loans, issue stock, raise capital, invest or divest in assets, open bank accounts, and manage the venture's financial resources appropriately. 3. Dissolution Powers: The dissolution clause specifies the process and conditions under which a venture can be dissolved or wound up. It typically addresses matters such as asset distribution, creditor notification, and the appointment of a liquidator. 4. Voting Powers: This clause defines the voting rights and procedures within the venture, including the election of the board of directors, approval of major business decisions, amendments to the venture agreement, and other matters that require a vote among venture participants. 5. Amendment and Modification Powers: This clause allows for changes, modifications, or updates to the venture agreement or other governing documents. It specifies the process and requirements for making amendments, ensuring transparency and legal validity. 6. Limitation of Liability: This type of clause addresses the extent to which the venture's members or managers can be held personally liable for the entity's debts, obligations, or legal actions. It can limit liability to the extent allowable by Kentucky law, providing protection to individuals involved in the venture. Kentucky Clauses Relating to Powers of Venture play a vital role in establishing the legal framework for a business entity's operations in Kentucky. By clearly defining and regulating the powers granted to the venture, these clauses help ensure a smooth and legally compliant functioning of the business while protecting the interests of its participants.
Kentucky Clauses Relating to Powers of Venture
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The credit of the Commonwealth shall not be given, pledged or loaned to any individual, company, corporation or association, municipality, or political subdivision of the State; nor shall the Commonwealth become an owner or stockholder in, nor make donation to, any company, association or corporation; nor shall the ...
Section 27 The powers of the government of the Commonwealth of Kentucky shall be divided into three distinct departments, and each of them be confined to a separate body of magistracy, to wit: Those which are legislative, to one; those which are executive, to another; and those which are judicial, to another.
Section 77 Power of Governor to remit fines and forfeitures, grant reprieves and pardons -- No power to remit fees.
To guard against transgression of the high powers which we have delegated, We Declare that every thing in this Bill of Rights is excepted out of the general powers of government, and shall forever remain inviolate; and all laws contrary thereto, or contrary to this Constitution, shall be void.
The interest and dividends of said fund, together with any sum which may be produced by taxation or otherwise for purposes of common school education, shall be appropriated to the common schools, and to no other purpose.
Rights of life, liberty, worship, pursuit of safety and happiness, free speech, acquiring and protecting property, peaceable assembly, redress of grievances, bearing arms. ... Men are equal -- No exclusive grant except for public services -- Property not to be exempted from taxation -- Grants revocable.
Section 12 No person, for an indictable offense, shall be proceeded against criminally by information, except in cases arising in the land or naval forces, or in the militia, when in actual service, in time of war or public danger, or by leave of court for oppression or misdemeanor in office.
Not more than two counties shall be joined together to form a Representative District: Provided, In doing so the principle requiring every district to be as nearly equal in population as may be shall not be violated.