Statutes, codes, and regulations
Kentucky Revised Statutes
Title 23 - PRIVATE CORPORATIONS AND ASSOCIATIONSChapter 272A - KENTUCKY UNIFORM LIMITED COOPERATIVE ASSOCIATION ACT
Subchapter 272A.15 - DISPOSITION OF ASSETS
Section 272A.15-010 - Disposition of assets not requiring member approval

Ky. Rev. Stat. § 272A.15-010

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Current through 2024 Ky. Acts ch.225
Section 272A.15-010 - Disposition of assets not requiring member approval

Unless the articles of association otherwise provide, member approval under KRS 272A.15-020 is not required for a limited cooperative association to:

(1) Sell, lease, exchange, license, or otherwise dispose of all or any part of the assets of the association in the usual and regular course of business; or
(2) Mortgage, pledge, dedicate to the repayment of indebtedness, or encumber in any way all or any part of the assets of the association, whether or not in the usual and regular course of business.

KRS 272A.15-010

Added by 2012 Ky. Acts ch. 160,§ 106, eff. 7/11/2012.