Kentucky Statutes 272A.11-030 – Power of estate of member
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Unless the organic rules provide for greater rights, if a member is dissociated because of death or is expelled by reason of being adjudged incompetent, the member’s personal representative or other legal representative may exercise the rights of a transferee of the member’s financial rights and, for purposes of settling the estate of a deceased member, may exercise the informational rights of a current member to obtain information under KRS § 272A.5-040.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 87, effective July 12, 2012.
Effective: July 12, 2012
Terms Used In Kentucky Statutes 272A.11-030
- 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
- 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
History: Created 2012 Ky. Acts ch. 160, sec. 87, effective July 12, 2012.