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KRS 155.100

Duration of membership -- Withdrawal

Known as the The Business Development Corporation Act

The act spans §§ 155–155 (34 sections).

Effective: March 21, 1960 History: Created 1960 Ky

Membership in the corporation shall be for the duration of the corporation; provided that, (1) Upon written notice given to the corporation three (3) years in advance, a member may withdraw from membership in the corporation at the expiration date of such notice;

(2) A member shall not be obligated to make any loans to the corporation pursuant to calls made subsequent to the notice of intention to withdraw of said member.

Official source: Kentucky General Assembly. Reproduced from public-domain Kentucky statutes; confirm against the official source for the current text. Not legal advice.