KRS 272A.5-040: Right of member to information.

(1) Not later than ten (10) business days after receipt of a demand made in a record, a

limited cooperative association shall permit a member to obtain, inspect, and copy

in the association's principal office required information listed in KRS 272A.1 -

120(1)(a) to (h) during regular business hours. A member need not have any

particular purpose for seeking the information. The association is not required to

provide the same information listed in KRS 272A.1 -120(1)(b) to (h) to the same

member more than once during a six (6) month period.

(2) On demand made in a record received by the limited cooperative association, a

member may obtain, inspect, and copy in the association's principal office required

information listed in KRS 272A.1 -120(1)(i), (j), (l), (m), (p), a nd (r) during regular

business hours, if:

(a) The member seeks the information in good faith and for a proper purpose

reasonably related to the member's interest;

(b) The demand includes a description with reasonable particularity of the

information sought and the purpose for seeking the information;

(c) The information sought is directly connected to the member's purpose; and

(d) The demand is reasonable.

(3) Not later than ten (10) business days after receipt of a demand pursuant to

subsection (2) of this section, a limited cooperative association shall provide, in a

record, the following information to the member that made the demand:

(a) If the association agrees to provide the demanded information:

1. What information the association will provide in res ponse to the

demand; and

2. A reasonable time and place at which the association will provide the

information; or

(b) If the association declines to provide some or all of the demanded

information, the association's reasons for declining.

(4) A person diss ociated as a member may obtain, inspect, and copy information

available to a member under subsection (1) or (2) of this section by delivering a

demand in a record to the limited cooperative association in the same manner and

subject to the same conditions applicable to a member under subsection (2) of this

section if:

(a) The information pertains to the period during which the person was a member

in the association; and

(b) The person seeks the information in good faith.

(5) A limited cooperative association shall respond to a demand made pursuant to

subsection (4) of this section in the manner provided in subsection (3) of this

section.

(6) Not later than ten (10) business days after receipt by a limited cooperative

association of a demand made by a member in a record, but not more often than

once in a six (6) month period, the association shall deliver to the member a record

stating the information with respect to the member required by KRS 272A.1 -

120(1)(q).

(7) A limited coo perative association may impose reasonable restrictions, including

nondisclosure restrictions, on the use of information obtained under this section.

Except as to limitations set forth in organic rules to which a member requesting

inspection has assented, in a dispute concerning the reasonableness of a restriction

under this subsection, the association has the burden of proving reasonableness.

(8) A limited cooperative association may charge a person that makes a demand under

this section the reasonable cos ts of copying, limited to the costs of labor and

material.

(9) A person that may obtain information under this section may obtain the information

through an attorney or other agent. A restriction imposed on the person under

subsection (7) of this section o r by the organic rules applies to the attorney or other

agent.

(10) The rights stated in this section do not extend to a person as transferee.

(11) The organic rules may require a limited cooperative association to provide more

information than required by this section, and the organic rules may establish

conditions and procedures for providing the information.