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KRS 272A.7-040

Remedies for breach of marketing contract

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) Damages to be paid to a limited cooperative association for breach or anticipatory repudiation of a marketing contract may be liquidated, but only at an amount or under a formula that is reasonable in light of the actual or anticipated harm caused by the breach or repudiation assessed as of the time of the making of the marketing contract. A provision that so provides is not a penalty or otherwise unreasonable.

(2) Upon a breach of a marketing contract, whether by anticipatory repudiation or otherwise, a limited cooperative association may seek:

(a) An injunction to prevent further breach; and (b) Specific performance.

(3) The remedies in this section are in addition to any other remedies available to an association under law other than this chapter.

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