§ 272A.1-010 Short title
§ 272A.1-020 Definitions
§ 272A.1-030 Limited cooperative association subject to amendment or repeal of chapter
§ 272A.1-040 Nature of limited cooperative association
§ 272A.1-050 Purpose and duration of limited cooperative association
§ 272A.1-060 Powers
§ 272A.1-070 Governing law
§ 272A.1-080 Supplemental principles of law
§ 272A.1-090 Relation to restraint of trade and antitrust laws
§ 272A.1-100 Name
§ 272A.1-110 Effect of organic rules
§ 272A.1-120 Required information
§ 272A.1-130 Dual capacity — Business transactions of member with limited cooperative association
§ 272A.1-140 Registered office and agent

Terms Used In Kentucky Statutes > Chapter 272A > Subchapter 1 - General Provisions

  • Action: includes all proceedings in any court of this state. See Kentucky Statutes 446.010
  • 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.
  • Appraisal: A determination of property value.
  • Articles of association: means the articles of association of a limited cooperative association required by KRS §. See Kentucky Statutes 272A.1-020
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bylaws: means the bylaws of a limited cooperative association. See Kentucky Statutes 272A.1-020
  • Certified mail: means any method of governmental, commercial, or electronic delivery that allows a document or package to have proof of:
    (a) Sending the document or package. See Kentucky Statutes 446.010
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Contract: A legal written agreement that becomes binding when signed.
  • Cooperative: means a limited cooperative association or an entity organized under any cooperative law of any jurisdiction. See Kentucky Statutes 272A.1-020
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • 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
  • Entity: means an entity or a foreign entity, both as defined in KRS §. See Kentucky Statutes 272A.1-020
  • 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
  • Financial rights: means the right to participate in allocations and distributions as provided in Subchapters 10 and 12 of this chapter, but does not include rights or obligations under a marketing contract governed by Subchapter 7 of this chapter. See Kentucky Statutes 272A.1-020
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • 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
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Indemnification: In general, a collateral contract or assurance under which one person agrees to secure another person against either anticipated financial losses or potential adverse legal consequences. Source: FDIC
  • 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
  • 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.
  • 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
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • 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
  • Members meeting: means an annual members meeting or special meeting of members. See Kentucky Statutes 272A.1-020
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Oath: A promise to tell the truth.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Organic law: means the statute providing for the creation of an entity or principally governing its internal affairs. See Kentucky Statutes 272A.1-020
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Patron member: means a member that has made a contribution to a limited cooperative association and:
    (a) Is required by the organic rules to conduct patronage with the association in the member's capacity as a patron member in order to receive the member's interest. See Kentucky Statutes 272A.1-020
  • Patronage: means business transactions between a limited cooperative association and a person which entitle the person to receive financial rights based on the value or quantity of business done between the association and the person. 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
  • Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents.
  • 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
  • Quorum: The number of legislators that must be present to do business.
  • Registered mail: means any governmental, commercial, or electronic method of delivery that allows a document or package to have:
    (a) Its chain of custody recorded in a register to enable its location to be tracked. See Kentucky Statutes 446.010
  • Secretary: means the officer designated pursuant to KRS §. See Kentucky Statutes 272A.1-020
  • State: when applied to a part of the United States, includes territories, outlying possessions, and the District of Columbia. See Kentucky Statutes 446.010
  • 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
  • Statute: A law passed by a legislature.
  • Transfer: includes an assignment, conveyance, deed, bill of sale, lease, mortgage, security interest, encumbrance, gift, and transfer by operation of law. See Kentucky Statutes 272A.1-020
  • Voting group: means any combination of one (1) or more voting members in one (1) or more districts or classes that under the organic rules or under this chapter are entitled to vote and can be counted together collectively on a matter at a members meeting. See Kentucky Statutes 272A.1-020
  • Year: means calendar year. See Kentucky Statutes 446.010