14A.1.070 Definitions. (Effective January 1, 2011)

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Page 1 of 3 14A.1-070 Definitions. (Effective January 1, 2011) As used in this chapter, unless the context otherwise requires: <br>(1) &quot;Business&quot; includes every trade, occupation, and profession; <br>(2) &quot;Corporation&quot; means a business corporation governed as to its internal affairs by KRS Chapter 271B, a cooperative or association governed as to its internal affairs <br>by KRS Chapter 272, a nonprofit corporation governed as to its internal affairs by <br>KRS Chapter 273, and a rural electric or rural telephone cooperative corporation <br>governed as to its internal affairs by KRS Chapter 279; (3) &quot;Business trust&quot; means a business trust governed as to its internal affairs by KRS Chapter 386; (4) &quot;Debtor in bankruptcy&quot; means a person who is the subject of: (a) An order for relief under Title 11 of the United States Code or a comparable order under a successor statute of general application; or (b) A comparable order under federal, state, or foreign law governing insolvency; (5) &quot;Deliver&quot; or &quot;delivery&quot; means any method of delivery used in conventional commercial practice, including delivery by hand, mail, commercial delivery, and <br>electronic transmission; (6) &quot;Electronic transmission&quot; or &quot;electronically transmitted&quot; means any process of communication not directly involving the physical transfer of paper that is suitable <br>for the retention, retrieval, and reproduction of information by the recipient; (7) &quot;Entity&quot; means a corporation, business trust, partnership, limited partnership, or limited liability company, governed as to its internal affairs by the laws of the <br>Commonwealth of Kentucky; (8) &quot;Foreign business trust&quot; means a business or statutory trust not governed as to its internal affairs by KRS Chapter 386; (9) &quot;Foreign corporation&quot; means a corporation as defined in subsection (2) of this section that is not: <br>(a) Organized pursuant to the laws of the Commonwealth of Kentucky; or <br>(b) As to its internal affairs, governed by the laws of the Commonwealth of Kentucky; (10) &quot;Foreign entity&quot; means a corporation, not-for-profit corporation, cooperative, association, business or statutory trust, partnership, limited partnership, or limited <br>liability company not: <br>(a) Organized pursuant to the laws of the Commonwealth of Kentucky; or <br>(b) As to its internal affairs, governed by the laws of the Commonwealth of Kentucky; (11) &quot;Foreign limited liability partnership&quot; means a partnership that: (a) Is formed under laws other than the laws of this Commonwealth; and <br>(b) Has the status of a limited liability partnership under those laws; (12) &quot;Foreign professional service corporation&quot; has the same meaning as in KRS 274.005; Page 2 of 3 (13) &quot;Foreign rural electric cooperative&quot; means a rural electric cooperative organized otherwise than under KRS 279.010 to 279.210; (14) &quot;Foreign rural telephone cooperative&quot; means a rural telephone cooperative organized otherwise than under KRS 279.310 to 279.990 excepting 279.570; (15) &quot;Limited liability company&quot; has the same meaning as in KRS 275.015; <br>(16) &quot;Limited liability partnership&quot; means a partnership that has filed a statement of qualification under KRS 362.1-1001 or a registration as a registered limited liability <br>partnership under KRS 362.555 and does not have a similar statement of <br>registration in effect in any other jurisdiction; (17) &quot;Name of record with the Secretary of State&quot; means any real, fictitious, reserved, registered, or assumed name of an entity or foreign entity; (18) &quot;Nonprofit corporation,&quot; other than in the term &quot;foreign nonprofit corporation,&quot; means a nonprofit corporation incorporated pursuant to and governed as to its <br>internal affairs by KRS Chapter 273 or predecessor law; (19) &quot;Organic act&quot; means the law of a state or other jurisdiction governing the organization and internal affairs of an entity or foreign entity; (20) &quot;Organized&quot; means organized, incorporated, or formed; <br>(21) &quot;Organizational filing&quot; means a filing made with the Secretary of State as a precondition to the formation, organization, or incorporation of an entity, including <br>articles of incorporation, articles of organization, and certificates of limited <br>partnership. A statement of qualification filed pursuant to KRS 362.1-1101 or a <br>registration as a limited liability partnership filed pursuant to KRS 362.555 is not an <br>organizational filing; (22) &quot;Partnership&quot; means an association of two (2) or more persons to carry on as co- owners a business for profit formed under KRS 362.1-202, predecessor law, or <br>comparable law of another jurisdiction; (23) &quot;Partnership agreement&quot; means the agreement, whether written, oral, or implied, among the partners concerning the partnership, including amendments to the <br>partnership agreement; (24) &quot;Person&quot; means an individual, an entity, a foreign entity, or any other legal or commercial entity; (25) &quot;Principal office&quot; means the address required by this chapter or the organic act to be of record with the Secretary of State as the principal office, the principal place of <br>business address, the designated office of a limited partnership, or the chief <br>executive office of a limited liability partnership; (26) &quot;Professional service corporation&quot; has the same meaning as in KRS 274.005; <br>(27) &quot;Professional services&quot; means the personal services rendered by physicians, osteopaths, optometrists, podiatrists, chiropractors, dentists, nurses, pharmacists, <br>psychologists, occupational therapists, veterinarians, engineers, architects, <br>landscape architects, certified public accountants, public accountants, physical <br>therapists, and attorneys; Page 3 of 3 (28) &quot;Property&quot; means all property, real, personal, or mixed, tangible or intangible, or any interest therein; (29) &quot;Qualified person&quot; has the same meaning as in KRS 274.005; <br>(30) &quot;Registered agent&quot; means a registered agent appointed in accordance with KRS 14A.4-010 or predecessor law, and is synonymous with agent for service of process; (31) &quot;Regulatory board&quot; means the agency that is charged by law with the licensing and regulation of the practice of the profession which the professional partnership is <br>organized to provide; (32) &quot;Rural electric cooperative&quot; means a rural electric cooperative governed as to its internal affairs by KRS 279.010 to 279.210; (33) &quot;Rural telephone cooperative&quot; means a rural telephone cooperative governed as to its internal affairs by 279.310 to 279.990 excepting 279.570; (34) &quot;Sign&quot; or &quot;signature&quot; includes any manual, facsimile, conformed, or electronic signature; and (35) &quot;State&quot; means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the <br>jurisdiction of the United States. Effective: January 1, 2011 <br>History: Created 2010 Ky. Acts ch. 151, sec. 7, effective January 1, 2011.