Kentucky Statutes 272A.1-070 – Governing law
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The law of this Commonwealth governs:
(1) The internal affairs of a limited cooperative association; and
(2) The liability of a member as member and a director as director for the debts, obligations, or other liabilities of a limited cooperative association.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 7, effective July 12, 2012.
(1) The internal affairs of a limited cooperative association; and
Terms Used In Kentucky Statutes 272A.1-070
- Cooperative: means a limited cooperative association or an entity organized under any cooperative law of any jurisdiction. See Kentucky Statutes 272A.1-020
- Director: means a director of a limited cooperative association. See Kentucky Statutes 272A.1-020
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- 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
(2) The liability of a member as member and a director as director for the debts, obligations, or other liabilities of a limited cooperative association.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 7, effective July 12, 2012.