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Kentucky Business Law Questions & Answers
1 Answer | Asked in Criminal Law and Business Law for Kentucky on
Q: Can a 501c treasurer be charged with theft of company property (e.g. checks and financial records as well as PO box key,

blank checks, income and expense documents, check registers, invoices and bank statements. If so, where would we look in the KRS for applicable statutes?

Timothy Denison
Timothy Denison
answered on Apr 28, 2018

Yes. KRS 514.030.

1 Answer | Asked in Business Law, Construction Law, Criminal Law and Federal Crimes for Kentucky on
Q: Is it against the law to ask someone to commit federal fraud?

I am a contractor on federal grant funded project and the owners ask me to falsify time sheets and and give them free labor and cabinets on a kitchen remodel at his house.

Timothy Denison
Timothy Denison
answered on Apr 18, 2018

Yes. That is against the law. Don’t do it.

1 Answer | Asked in Business Law, Contracts and Bankruptcy for Kentucky on
Q: If a business goes bankrupt, is there still something you can do seven years later?

We out grew our old church and built a new one 7 years ago. The primary contractor went bankrupt while building our church. It cost $3 million dollars; however, it is definitely not a $3 million dollar job! We have had MANY problems because of "shotty" work, lesser quality materials,... Read more »

Timothy Denison
Timothy Denison
answered on Apr 17, 2018

If you were listed as a creditor in the bankruptcy seven years ago the contractor was discharged, your opportunities died with the discharge. If you were not listed as a creditor, then you may take action against him.

1 Answer | Asked in Contracts and Business Law for Kentucky on
Q: A friend and I opened a company with 50-50 owner ship.

He is trying to force me out of the company. He is also saying I have to pay taxes on half of the money the company made but I was never paid that money. So what should I legally do to keep this from happening

Timothy Denison
Timothy Denison
answered on Apr 17, 2018

You’re going to have to hire a lawyer to protect you. If the business is a sole proprietorship, the taxes should be paid by the sp before any profits are distributed. If there is a deficit, you each owe 1/2 the deficit. If it is a Partnership or corporation, similarly, the p or c should pay... Read more »

1 Answer | Asked in Business Law, Contracts and Tax Law for Kentucky on
Q: Why can my LLC’s liquor/beer License be revoked due to unpaid state taxes by LLC I bought the business from?

I was never made aware of the previous owners delinquent state sales taxes prior to my purchase. And the state of Kentucky even approved and took full payment for my Transitional Liquor License Application. Only then was I informed of the previous owners delinquent sales tax status. If previous... Read more »

Timothy Denison
Timothy Denison
answered on Apr 17, 2018

Liquor licenses are a highly regulated area by government. When you purchased the LLC you should have been made aware of the back taxes owed. You probably have a cause of action against the sellers for failing to disclose that information.

1 Answer | Asked in Car Accidents, Personal Injury and Business Law for Kentucky on
Q: The air bag on my car exploded for no reason.it gave me a cuncussion.do I have a lawsuit?

I researched and found a class action suit with an airbag manufacturer and 5 auto makers but my car isn't one of the 5 companys.there was no impact or collision just turned the key and Bam,2 trips to the ER for concussion and a minor eye injury,and now no car, feel that car is unsafe.

Peter N. Munsing
Peter N. Munsing
answered on Jul 18, 2017

Possibly. Contact a member of the Ky. Trial Lawyers Assn that handles product cases.

1 Answer | Asked in Business Law and Tax Law for Kentucky on
Q: My son had side business paid no taxes. Now figured out he should what does he need to do now.
Matthew M Montoya
Matthew M Montoya
answered on Sep 26, 2016

You should find a Tax Controversy attorney to handle the matter. There are a lot of different ramifications that depend on the exact factual scenario.

For example, a "side business" that involves occasionally making trinkets and selling them on Etsy is very different from a...
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1 Answer | Asked in Business Law for Kentucky on
Q: Who is responsible for a stock certificate?

I inherited stock from my parents. The company was recently bought out and I have to submit the certificates for the new company to get the new stock. I never received the stock certificate originally. It was sent to my brother (I assume since he was the executor of the will), and he never gave it... Read more »

Adam Studnicki
Adam Studnicki
answered on Aug 28, 2015

If it's going to cost that much (sounds remarkably steep), it's certainly worth an hour consultation with a local business lawyer to determine your rights and options.

Please Take Notice: I am not your lawyer unless we enter into an engagement agreement in writing. This is general...
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