KRS 272A.15-010: Disposition of assets not requiring member approval.

Unless the articles of association otherwise provide, member approval under KRS

272A.15-020 is not required for a limited cooperative association to:

(1) Sell, lease, exchange, license, or otherwise dispose of all or any part of the assets of

the association in the usual and regular course of business; or

(2) Mortgage, pledge, dedicate to the repayment of indebtedness, or encumber in any

way all or any part of the assets of the association, whether or not in the usual and

regular course of business.