Kentucky Statutes 279.020 – Who may incorporate
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Any three (3) or more individuals, partnerships, associations, or private corporations, a majority of whom are citizens of Kentucky, may by executing, filing, and recording articles of incorporation as provided in KRS § 279.030 and KRS § 279.040 organize to conduct a nonprofit cooperative corporation for the:
(1) Primary purpose of generating, purchasing, selling, transmitting, or distributing electric energy to any individual or entity, and providing any good or service related to generating, purchasing, selling, transmitting, or distributing electric energy to any individual or entity; and
(2) If the cooperative desires, for the secondary purpose of engaging in any other lawful business or activity, provided that any nonregulated business or activity is conducted through an affiliate except for any business or activity which does not involve the sale of a product that is conducted pursuant to a contract with a federal military installation or a contract for administrative services which does not involve the sale of a product requested by a local, state, or federal government.
Effective: July 12, 2006
History: Amended 2006 Ky. Acts ch. 114, sec. 1, effective July 12, 2006. — Amended
1974 Ky. Acts ch. 38, sec. 1, effective June 21, 1974. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 883j-3.
(1) Primary purpose of generating, purchasing, selling, transmitting, or distributing electric energy to any individual or entity, and providing any good or service related to generating, purchasing, selling, transmitting, or distributing electric energy to any individual or entity; and
Terms Used In Kentucky Statutes 279.020
- Contract: A legal written agreement that becomes binding when signed.
- Cooperative: means any corporation organized under KRS §. See Kentucky Statutes 279.310
- Federal: refers to the United States. See Kentucky Statutes 446.010
- State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
(2) If the cooperative desires, for the secondary purpose of engaging in any other lawful business or activity, provided that any nonregulated business or activity is conducted through an affiliate except for any business or activity which does not involve the sale of a product that is conducted pursuant to a contract with a federal military installation or a contract for administrative services which does not involve the sale of a product requested by a local, state, or federal government.
Effective: July 12, 2006
History: Amended 2006 Ky. Acts ch. 114, sec. 1, effective July 12, 2006. — Amended
1974 Ky. Acts ch. 38, sec. 1, effective June 21, 1974. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 883j-3.