KRS 272A.10-020: Contribution and valuation.

(1) Unless the organic rules otherwise provide, the contributions of a member to a

limited cooperative association may consist of tangible or intangible property or

other benefit to the association, including money, labor, or other services performed

or to be performed, promissory notes, other agreements to contribute money or

property, and contracts to be performed.

(2) The receipt and acceptance of contributions and the valuation of contributions shall

be reflected in a limited cooperative association's records.

(3) Unless the organic rules otherwise provide, the board of directors shall determine

the value of a member's contributions received or to be received, and the

determination by the board of directors of valuation is conclusive for purposes of

determining whether the member's contribution obligation has been met.