Kentucky Statutes 155.100 – Duration of membership — Withdrawal
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Membership in the corporation shall be for the duration of the corporation; provided that, (1) Upon written notice given to the corporation three (3) years in advance, a member
may withdraw from membership in the corporation at the expiration date of such
notice;
(2) A member shall not be obligated to make any loans to the corporation pursuant to calls made subsequent to the notice of intention to withdraw of said member.
Effective: March 21, 1960
History: Created 1960 Ky. Acts ch. 73, sec. 10, effective March 21, 1960.
may withdraw from membership in the corporation at the expiration date of such
Terms Used In Kentucky Statutes 155.100
- 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
notice;
(2) A member shall not be obligated to make any loans to the corporation pursuant to calls made subsequent to the notice of intention to withdraw of said member.
Effective: March 21, 1960
History: Created 1960 Ky. Acts ch. 73, sec. 10, effective March 21, 1960.