KRS 272.211: Powers of association.

An association has the following powers:

(1) To engage in any activity in connection with the producing, marketing, selling,

harvesting, preserving, drying, processing, canning, packaging, grading, storing,

handling, or utilization of any agricultural products produced or delivered to it by its

members and others; or the manufacturing or marketing of the by -products thereof;

or in connection with the purchase, hiring, or use by its members and others of

supplies, machinery, or furnishing services of economic or educational nature; or in

any one (1) or more of the activities specified in this section;

(2) To limit its business activities to those performed only for its members. If an

association transacts business with nonmembers, the same must not exceed in

amount the total business transacted by the association for its members;

(3) To borrow money without limitation as to amount of indebtedness, and to make

advances to members and others;

(4) To act as the agent or representative of any members, or others, in any of the

activities referred to in subsection (1) of this section;

(5) To acquire, hold, own, and sell, transfer, pledge or guarantee the payment of

dividends or interest on, or in the retirement or redemption of, shares of the capital

stock or bonds of any association or corporation;

(6) To establish and accumulate reasonable reserves;

(7) To buy, hold, and exercise all privileges of ownership, over such real or personal

property as is necessary or convenient for the conduct and operation of, or

incidental to, the business of the association;

(8) To do each and every thing necessary, suitable, or proper for the accomplishment of

any one (1) or more of the purposes, or the attainment of any one or more of the

objectives herein enumerated; or conducive to or expedient for the interest or

benefit of the association; and to contract accordingly; and to exercise and possess

all powers, rights, and privileges necessary or incidental to the purposes for which

the association is organized or to the activities in which it is engaged; and in

addition, any other rights, powers, and privileges granted by the laws of this state to

corporations generally, except such as are inconsistent with the express provisions

of KRS 272.101 to 272.341, and to do any such thing anywhere; and

(9) To sue and be sued in its corporate name.