Kentucky Statutes 273A.125 – Dissolution
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(1) An unincorporated nonprofit association may be dissolved as follows:
(a) If the governing principles provide a time or method for dissolution, at that time or by that method;
(b) If the governing principles do not provide a time or method for dissolution, upon approval by the members;
(c) If no member can be located and the association’s operations have been discontinued for at least three (3) years, by the managers or, if the association has no current manager, by its last manager;
(d) By court order; or
(e) Under law other than this chapter.
(2) After dissolution, an unincorporated nonprofit association continues in existence until its activities have been wound up and it is terminated pursuant to KRS
273A.130.
Effective: June 24, 2015
History: Created 2015 Ky. Acts ch. 34, sec. 36, effective June 24, 2015.
(a) If the governing principles provide a time or method for dissolution, at that time or by that method;
Terms Used In Kentucky Statutes 273A.125
- Governing principles: means the agreements, whether oral, in a record, or implied from its established practices, that govern the purpose or operation of an unincorporated nonprofit association and the rights and obligations of its members and manager. See Kentucky Statutes 273A.005
- Manager: means a person that is responsible, whether alone or in concert with others, for the management of an unincorporated nonprofit association. See Kentucky Statutes 273A.005
- Member: means a person that, under the governing principles, may participate in the selection of persons authorized to manage the affairs of the unincorporated nonprofit association or in the development of the policies and activities of the association. See Kentucky Statutes 273A.005
- Unincorporated nonprofit association: means an unincorporated organization consisting of two (2) or more members joined under an agreement that is oral, in a record, or implied from conduct, for one (1) or more common, nonprofit purposes. See Kentucky Statutes 273A.005
(b) If the governing principles do not provide a time or method for dissolution, upon approval by the members;
(c) If no member can be located and the association’s operations have been discontinued for at least three (3) years, by the managers or, if the association has no current manager, by its last manager;
(d) By court order; or
(e) Under law other than this chapter.
(2) After dissolution, an unincorporated nonprofit association continues in existence until its activities have been wound up and it is terminated pursuant to KRS
273A.130.
Effective: June 24, 2015
History: Created 2015 Ky. Acts ch. 34, sec. 36, effective June 24, 2015.