{"data":{"id":"us-ky/krs-272.211","jurisdiction":"us-ky","citation":"KRS 272.211","heading":"Powers of association.","body":"An association has the following powers:\n(1) To engage in any activity in connection with the producing, marketing, selling,\nharvesting, preserving, drying, processing, canning, packaging, grading, storing,\nhandling, or utilization of any agricultural products produced or delivered to it by its\nmembers and others; or the manufacturing or marketing of the by -products thereof;\nor in connection with the purchase, hiring, or use by its members and others of\nsupplies, machinery, or furnishing services of economic or educational nature; or in\nany one (1) or more of the activities specified in this section;\n(2) To limit its business activities to those performed only for its members. If an\nassociation transacts business with nonmembers, the same must not exceed in\namount the total business transacted by the association for its members;\n(3) To borrow money without limitation as to amount of indebtedness, and to make\nadvances to members and others;\n(4) To act as the agent or representative of any members, or others, in any of the\nactivities referred to in subsection (1) of this section;\n(5) To acquire, hold, own, and sell, transfer, pledge or guarantee the payment of\ndividends or interest on, or in the retirement or redemption of, shares of the capital\nstock or bonds of any association or corporation;\n(6) To establish and accumulate reasonable reserves;\n(7) To buy, hold, and exercise all privileges of ownership, over such real or personal\nproperty as is necessary or convenient for the conduct and operation of, or\nincidental to, the business of the association;\n(8) To do each and every thing necessary, suitable, or proper for the accomplishment of\nany one (1) or more of the purposes, or the attainment of any one or more of the\nobjectives herein enumerated; or conducive to or expedient for the interest or\nbenefit of the association; and to contract accordingly; and to exercise and possess\nall powers, rights, and privileges necessary or incidental to the purposes for which\nthe association is organized or to the activities in which it is engaged; and in\naddition, any other rights, powers, and privileges granted by the laws of this state to\ncorporations generally, except such as are inconsistent with the express provisions\nof KRS 272.101 to 272.341, and to do any such thing anywhere; and\n(9) To sue and be sued in its corporate name.","path":["KRS Chapter 272"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=13533","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:21Z","sha256":"e2067ea61eb687635a6a225bd1568e2ecf421c3583c900cc4d63f29819aab295","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272.210","next":"us-ky/krs-272.220"},"notice":"GroundRules: Original legal text. Not legal advice."}