Kentucky Statutes 262.906 – Purchase of Agricultural Conservation Easement (PACE) Corporation — Board of directors
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(1) There is hereby created the Purchase of Agricultural Conservation Easement Corporation which shall oversee all issues involving purchases of agricultural conservation easements. The corporation shall be a de jure municipal corporation and political subdivision of the Commonwealth. The corporation shall be a public agency within the meaning of KRS § 61.805 and KRS § 61.870 and shall be attached for administrative purposes to the Department of Agriculture.
(2) (a) The corporation shall be governed by a board of directors, consisting of the following eleven (11) members: four (4) public directors who shall be the Commissioner of the Department of Agriculture, the secretary of the Energy and Environment Cabinet, the dean of the University of Kentucky College of Agriculture, and the chair of the Soil and Water Conservation Commission, or their designees; and seven (7) private directors who shall be appointed by the Governor, as follows:
1. One (1) private director from each of the six (6) congressional districts;
and
2. One (1) private director from a list of three (3) persons suggested by the
Kentucky Farm Bureau Federation, Inc.
(b) Initial appointment of the private directors by the Governor shall be for staggered terms.
(c) No more than four (4) of the private directors shall be from the same political party. Members shall serve a term of four (4) years, with the exception of the initial members, and may be reappointed. Vacancies shall be filled in the same manner as the appointment is made.
(3) (a) Any member who has an ownership interest in any of the lands eligible for the purchase of an agricultural conservation easement or other property interest and who wishes to apply to sell an easement while serving on the board of directors shall withdraw himself from all board activities prior to application and until the transaction is complete. The Governor shall appoint an interim member to fill the vacancy until the transaction is complete.
(b) Any person who has previously applied for or sold an agricultural conservation easement may serve on the board.
(4) Members shall not be compensated for their services but shall be reimbursed for expenses incurred in the performance of their duties.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 604, effective July 15, 2010. — Created
1994 Ky. Acts ch. 390, sec. 22, effective July 15, 1994.
(2) (a) The corporation shall be governed by a board of directors, consisting of the following eleven (11) members: four (4) public directors who shall be the Commissioner of the Department of Agriculture, the secretary of the Energy and Environment Cabinet, the dean of the University of Kentucky College of Agriculture, and the chair of the Soil and Water Conservation Commission, or their designees; and seven (7) private directors who shall be appointed by the Governor, as follows:
Terms Used In Kentucky Statutes 262.906
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: may extend and be applied to any corporation, company, partnership, joint stock company, or association. See Kentucky Statutes 446.010
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
1. One (1) private director from each of the six (6) congressional districts;
and
2. One (1) private director from a list of three (3) persons suggested by the
Kentucky Farm Bureau Federation, Inc.
(b) Initial appointment of the private directors by the Governor shall be for staggered terms.
(c) No more than four (4) of the private directors shall be from the same political party. Members shall serve a term of four (4) years, with the exception of the initial members, and may be reappointed. Vacancies shall be filled in the same manner as the appointment is made.
(3) (a) Any member who has an ownership interest in any of the lands eligible for the purchase of an agricultural conservation easement or other property interest and who wishes to apply to sell an easement while serving on the board of directors shall withdraw himself from all board activities prior to application and until the transaction is complete. The Governor shall appoint an interim member to fill the vacancy until the transaction is complete.
(b) Any person who has previously applied for or sold an agricultural conservation easement may serve on the board.
(4) Members shall not be compensated for their services but shall be reimbursed for expenses incurred in the performance of their duties.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 604, effective July 15, 2010. — Created
1994 Ky. Acts ch. 390, sec. 22, effective July 15, 1994.