99.100 Organization of redevelopment corporation -- Articles.
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<![CDATA[99.100 Organization of redevelopment corporation -- Articles. (1) At any time within twenty (20) years of June 1, 1942, three (3) or more persons may form a redevelopment corporation on making, subscribing, acknowledging and <br>filing articles of incorporation and obtaining a certificate or charter pursuant to the <br>general corporation law, which charter shall be entitled and indorsed "Certificate or <br>Charter of Incorporation of .... Redevelopment Corporation," the blank space being <br>filled in with the remainder of the name of the corporation. Such articles of <br>incorporation shall contain the provisions required in, and may contain any <br>provisions consistent with the provisions of KRS 99.010 to 99.310 permitted in, <br>articles of incorporation filed pursuant to the general corporation law, except that: <br>(a) Included among the purposes for which the corporation is formed shall be the formulation, obtaining the approval of, and putting into effect of a <br>development plan, the acquisition of real property in a development area, and <br>the construction, maintenance and operation of a development pursuant to <br>KRS 99.010 to 99.310; (b) The duration of the corporation shall not be less than twenty (20) years; and <br>(c) The certificate or charter shall contain a declaration that the redevelopment corporation has been organized to serve a public purpose, and that it shall be <br>subject to supervision and control as provided in KRS 99.010 to 99.310. (2) A copy of such articles of incorporation shall be filed with the planning commission and the supervising agency having jurisdiction within thirty (30) days of its being <br>filed in the office of the Secretary of State. Effective: June 2, 1942 <br>History: Created 1942 Ky. Acts ch. 36, sec. 5. ]]>