Kentucky Statutes 247.490 – Affirmative vote, effect — Domestic and foreign associations
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(1) If, in such referendum called under the provisions of KRS § 247.450 to KRS § 247.505, a majority of the producers in the area in which such referendum is conducted, eligible to participate and voting therein, shall vote in the affirmative and in favor of the levying and collection of such assessment proposed in such referendum on such agricultural commodity, then such assessment shall be collected in the manner determined and announced by the agency conducting such referendum.
(2) Any agricultural cooperative association organized under KRS Chapter 272 or
272A, any foreign agricultural cooperative association, or any foreign limited cooperative association that has received a certificate of authority to conduct business in the Commonwealth in the same manner as a domestic agricultural cooperative association, on application to and approval by the Commissioner, may by an alternate procedure, not in conflict with the purposes of KRS § 247.450 to
247.505, handle the collection and disbursement of the assessments of its members. The purchaser of the agricultural commodity of the members of such association shall be relieved of the collecting and reporting requirements of KRS § 247.493 with respect to such members.
Effective: July 12, 2012
History: Amended 2012 Ky. Acts ch. 160, sec. 137, effective July 12, 2012. — Amended 1974 Ky. Acts ch. 401, sec. 1. — Created 1968 Ky. Acts ch. 171, sec. 11.
(2) Any agricultural cooperative association organized under KRS Chapter 272 or
Terms Used In Kentucky Statutes 247.490
- Commissioner: means Commissioner of Agriculture. See Kentucky Statutes 247.010
- Domestic: when applied to a corporation, partnership, business trust, or limited liability company, means all those incorporated or formed by authority of this state. See Kentucky Statutes 446.010
- Foreign: when applied to a corporation, partnership, limited partnership, business trust, statutory trust, or limited liability company, includes all those incorporated or formed by authority of any other state. See Kentucky Statutes 446.010
272A, any foreign agricultural cooperative association, or any foreign limited cooperative association that has received a certificate of authority to conduct business in the Commonwealth in the same manner as a domestic agricultural cooperative association, on application to and approval by the Commissioner, may by an alternate procedure, not in conflict with the purposes of KRS § 247.450 to
247.505, handle the collection and disbursement of the assessments of its members. The purchaser of the agricultural commodity of the members of such association shall be relieved of the collecting and reporting requirements of KRS § 247.493 with respect to such members.
Effective: July 12, 2012
History: Amended 2012 Ky. Acts ch. 160, sec. 137, effective July 12, 2012. — Amended 1974 Ky. Acts ch. 401, sec. 1. — Created 1968 Ky. Acts ch. 171, sec. 11.