(1) The laws of the state or other jurisdiction under which a foreign limited cooperative association is organized govern relations among the members of the foreign cooperative and between the members and the foreign cooperative.
(2) A foreign limited cooperative association shall be subject to KRS Chapter 14A.

Terms Used In Kentucky Statutes 272A.14-010

  • Cooperative: means a limited cooperative association or an entity organized under any cooperative law of any jurisdiction. See Kentucky Statutes 272A.1-020
  • 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
  • Foreign cooperative: means an entity organized in a jurisdiction other than this
    Commonwealth under a law similar to this chapter. See Kentucky Statutes 272A.1-020
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • 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

(3) A foreign limited cooperative association shall not be denied a certificate of authority because of any difference between the laws of the jurisdiction under which the foreign cooperative is organized and the law of this Commonwealth.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 104, effective July 12, 2012.

  Previous section
Next section  
 Subchapter 14 Contents