Kentucky Statutes 272A.15-020 – Member approval of other asset dispositions
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A sale, lease, exchange, license, or other disposition of assets of a limited cooperative association, other than a disposition described in KRS § 272A.15-010, requires approval of the association’s members under KRS § 272A.15-030 and KRS § 272A.15-040 if the disposition leaves the association without significant continuing business activity.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 107, effective July 12, 2012.
Effective: July 12, 2012
Terms Used In Kentucky Statutes 272A.15-020
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Cooperative: means a limited cooperative association or an entity organized under any cooperative law of any jurisdiction. See Kentucky Statutes 272A.1-020
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
History: Created 2012 Ky. Acts ch. 160, sec. 107, effective July 12, 2012.