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14A.9.050 Effect of certificate of authority. (Effective January 1, 2011)

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Page 1 of 1 14A.9-050 Effect of certificate of authority. (Effective January 1, 2011) (1) A certificate of authority shall authorize the foreign entity to which it is issued the authority to transact business in this Commonwealth subject, however, to the right <br>of the Commonwealth to revoke the certificate as provided in this chapter. (2) A foreign entity with a valid certificate of authority shall have the same but no greater rights and shall have the same but no greater privileges as, and except as <br>otherwise provided by this chapter shall be subject to the same duties, restrictions, <br>penalties, and liabilities now or later imposed on, a domestic entity of like character. (3) This chapter shall not authorize this Commonwealth to regulate the organization or internal affairs, including the inspection of books, records, and documents, of a <br>foreign entity authorized to transact business in this Commonwealth. (4) Nothing in this section shall be interpreted or construed to limit the capacity and authority of a professional regulatory board to regulate the terms and manner by <br>which professional services are rendered in the Commonwealth of Kentucky <br>through or on behalf of a foreign entity. Effective: January 1, 2011 <br>History: Created 2010 Ky. Acts ch. 151, sec. 44, effective January 1, 2011.