Kentucky Statutes 247.240 – County farm bureaus authorized
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(1) A farm bureau may be incorporated in each county.
(2) Farm bureaus may acquire, by gift or purchase, real and personal property and may exercise all powers necessary or convenient to successfully carry out the objects of farm bureaus.
(3) Farm bureau corporations shall not declare dividends.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 42d-1, 42d-5, 42d-8.
(2) Farm bureaus may acquire, by gift or purchase, real and personal property and may exercise all powers necessary or convenient to successfully carry out the objects of farm bureaus.
Terms Used In Kentucky Statutes 247.240
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Personal property: All property that is not real property.
(3) Farm bureau corporations shall not declare dividends.
Effective: October 1, 1942
History: Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky.
Stat. sec. 42d-1, 42d-5, 42d-8.