{"data":{"id":"us-ky/krs-272.1001","jurisdiction":"us-ky","citation":"KRS 272.1001","heading":"Definition of terms in KRS 272.101 to 272.341.","body":"As used in KRS 272.101 to 272.341, unless the context otherwise requires:\n(1) \"Agricultural products\" includes horticultural, viticultural, floricultural, forestry,\ndairy, livestock, poultry, bee and any farm products;\n(2) \"Association\" means a corporation  organized under, or entitled to the benefits of,\nKRS 272.121 to 272.341 or a corporation which is organized under any general or\nspecial act of this state. Such an association shall be classed as and deemed to be a\nnonprofit corporation, since its primary  object is not to make profits for itself, as\nsuch, or to pay dividends or invest its capital, but to provide service and a means\nwhereby its members may have the economic advantage of cooperative action,\nincluding a reasonable and fair return for their products or service;\n(3) \"Member\" means the holder of a membership in an association without capital stock\n(whether evidenced by a certificate of membership or other means of identification,\nincluding but not limited to the association's records) or means th e holder of voting\nstock in an association organized with capital stock;\n(4) \"Board\" means the board of directors of the association;\n(5) \"Person\" includes individuals, firms, partnerships, corporations, and associations;\n(6) \"Foreign association\" means a corporation organized under any general or special\nact of another state, the United States, or the District of Columbia as a cooperative\ncorporation or association for the mutual benefit of its members and other patrons,\nand which confines its operations t o the purposes specified in the cooperative\ncorporation statutes of the jurisdiction of its incorporation, and restricts the return\non stock or membership capital, and the amount of its business with nonmembers to\nthe limits placed thereon by the cooperati ve corporation statutes of the jurisdiction\nof its incorporation;\n(7) \"Corporation\" means, except as used in subsections (2) and (6) of this section, a\ncorporation for profit organized under any general or special act of this state or of\nanother state, the United States, or the District of Columbia; and\n(8) \"Member-association\" means an association or foreign association which is a\nmember of another association or foreign association.","path":["KRS Chapter 272"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=13507","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:20Z","sha256":"70cca489ca2ad91f318a6082509b57b47ae70326fb0e3686683a11c7fcff44d9","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272.100","next":"us-ky/krs-272.101"},"notice":"GroundRules: Original legal text. Not legal advice."}