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KRS 272A.10-050

Distributions

Known as the Kentucky Uniform Limited Cooperative Association Act

The act spans §§ 272A.10-010 to 272A.9-010 (123 sections).

Effective: July 12, 2012 History: Created 2012 Ky

(1) Unless the organic rules otherwise provide and subject to KRS 272A.10-070, the board of directors may authorize, and the limited cooperative association may make, distributions to members.

(2) Unless the organic rules otherwise provide, distributions to members may be made in any form, including money, capital credits, allocated patronage equities, revolving fund certificates, and the limited cooperative association's own or other securities.

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