Kentucky Statutes 272A.6-010 – Member’s interest
Current as of: 2024 | Check for updates
|
Other versions
A member‘s interest:
(1) Is personal property; (2) Consists of:
(a) Governance rights; (b) Financial rights; and
(c) The right or obligation, if any, to do business with the limited cooperative association; and
(3) May be in certificated or uncertificated form.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 45, effective July 12, 2012.
(1) Is personal property; (2) Consists of:
Terms Used In Kentucky Statutes 272A.6-010
- Cooperative: means a limited cooperative association or an entity organized under any cooperative law of any jurisdiction. See Kentucky Statutes 272A.1-020
- Financial rights: means the right to participate in allocations and distributions as provided in Subchapters 10 and 12 of this chapter, but does not include rights or obligations under a marketing contract governed by Subchapter 7 of this chapter. See Kentucky Statutes 272A.1-020
- Governance rights: means the right to participate in governance of a limited cooperative association. See Kentucky Statutes 272A.1-020
- Member: means a person that is admitted as a patron member or investor member, or both, in a limited cooperative association. See Kentucky Statutes 272A.1-020
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Personal property: All property that is not real property.
(a) Governance rights; (b) Financial rights; and
(c) The right or obligation, if any, to do business with the limited cooperative association; and
(3) May be in certificated or uncertificated form.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 45, effective July 12, 2012.