Kentucky Statutes 272A.5-140 – Action without a meeting
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(1) Unless the organic rules require that action be taken only at a members meeting, any action that may be taken by the members may be taken without a meeting if each member entitled to vote on the action consents in a record to the action.
(2) Consent under subsection (1) of this section may be withdrawn by a member in a record at any time before the limited cooperative association receives a consent from each member entitled to vote.
(3) Consent to any action may specify the effective date or time of the action.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 43, effective July 12, 2012.
(2) Consent under subsection (1) of this section may be withdrawn by a member in a record at any time before the limited cooperative association receives a consent from each member entitled to vote.
Terms Used In Kentucky Statutes 272A.5-140
- Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
- Cooperative: means a limited cooperative association or an entity organized under any cooperative law of any jurisdiction. 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
- Members meeting: means an annual members meeting or special meeting of members. See Kentucky Statutes 272A.1-020
(3) Consent to any action may specify the effective date or time of the action.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 43, effective July 12, 2012.