Kentucky Statutes 272A.1-120 – Required information
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(1) Subject to subsection (2) of this section, a limited cooperative association shall maintain in a record available at its principal office:
(a) A list containing the name, last known street address and, if different, mailing address, and term of office of each director and officer;
(b) The initial articles of association and all amendments to and restatements of the articles, together with a signed copy of any power of attorney under which any article, amendment, or restatement has been signed;
(c) The initial bylaws and all amendments to and restatements of the bylaws; (d) All filed articles of merger and statements of conversion;
(e) All financial statements of the association for the six (6) most recent years;
(f) The six (6) most recent annual reports delivered by the association to the
Secretary of State;
(g) The minutes of members meetings for the six (6) most recent years;
(h) Evidence of all actions taken by members without a meeting for the six (6)
most recent years; (i) A list containing:
1. The name, in alphabetical order, and last known street address and, if different, mailing address of each patron member and each investor member; and
2. If the association has districts or classes of members, information from which each current member in a district or class may be identified;
(j) The federal income tax returns, any state and local income tax returns, and any tax reports of the association for the six (6) most recent years;
(k) Accounting records maintained by the association in the ordinary course of its operations for the six (6) most recent years;
(l) The minutes of directors meetings for the six (6) most recent years;
(m) Evidence of all actions taken by directors without a meeting for the six (6)
most recent years;
(n) The amount of money contributed and agreed to be contributed by each member;
(o) A description and statement of the agreed value of contributions other than money made and agreed to be made by each member;
(p) The times at which, or events on the happening of which, any additional contribution is to be made by each member;
(q) For each member, a description and statement of the member’s interest or information from which the description and statement can be derived; and
(r) All communications concerning the association made in a record to all members, or to all members in a district or class, for the six (6) most recent years.
(2) If a limited cooperative association has existed for less than the period for which records must be maintained under subsection (1) of this section, the period records shall be kept is the period of the association’s existence.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 12, effective July 12, 2012.
(a) A list containing the name, last known street address and, if different, mailing address, and term of office of each director and officer;
Terms Used In Kentucky Statutes 272A.1-120
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Articles of association: means the articles of association of a limited cooperative association required by KRS §. See Kentucky Statutes 272A.1-020
- Bylaws: means the bylaws of a limited cooperative association. See Kentucky Statutes 272A.1-020
- Cooperative: means a limited cooperative association or an entity organized under any cooperative law of any jurisdiction. See Kentucky Statutes 272A.1-020
- Director: means a director of a limited cooperative association. See Kentucky Statutes 272A.1-020
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Federal: refers to the United States. See Kentucky Statutes 446.010
- Investor member: means a member that has made a contribution to a limited cooperative association and:
(a) Is not required by the organic rules to conduct patronage with the association in the member's capacity as an investor member in order to receive the member's interest. 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
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
- Principal office: means the principal executive office of a limited cooperative association or foreign cooperative, whether or not in this state. See Kentucky Statutes 272A.1-020
- State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Kentucky Statutes 272A.1-020
(b) The initial articles of association and all amendments to and restatements of the articles, together with a signed copy of any power of attorney under which any article, amendment, or restatement has been signed;
(c) The initial bylaws and all amendments to and restatements of the bylaws; (d) All filed articles of merger and statements of conversion;
(e) All financial statements of the association for the six (6) most recent years;
(f) The six (6) most recent annual reports delivered by the association to the
Secretary of State;
(g) The minutes of members meetings for the six (6) most recent years;
(h) Evidence of all actions taken by members without a meeting for the six (6)
most recent years; (i) A list containing:
1. The name, in alphabetical order, and last known street address and, if different, mailing address of each patron member and each investor member; and
2. If the association has districts or classes of members, information from which each current member in a district or class may be identified;
(j) The federal income tax returns, any state and local income tax returns, and any tax reports of the association for the six (6) most recent years;
(k) Accounting records maintained by the association in the ordinary course of its operations for the six (6) most recent years;
(l) The minutes of directors meetings for the six (6) most recent years;
(m) Evidence of all actions taken by directors without a meeting for the six (6)
most recent years;
(n) The amount of money contributed and agreed to be contributed by each member;
(o) A description and statement of the agreed value of contributions other than money made and agreed to be made by each member;
(p) The times at which, or events on the happening of which, any additional contribution is to be made by each member;
(q) For each member, a description and statement of the member’s interest or information from which the description and statement can be derived; and
(r) All communications concerning the association made in a record to all members, or to all members in a district or class, for the six (6) most recent years.
(2) If a limited cooperative association has existed for less than the period for which records must be maintained under subsection (1) of this section, the period records shall be kept is the period of the association’s existence.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 12, effective July 12, 2012.