{"data":{"id":"us-ky/krs-272.440","jurisdiction":"us-ky","citation":"KRS 272.440","heading":"Board of directors.","body":"(1) The affairs of the association shall be managed by a board of not less than five (5)\ndirectors, elected by the members from their own number. The bylaws may provide\nthat the territory in which the association has members shall be divided into districts\nand that the directors shall be elected according to such districts, either directly or\nby district delegates elected by the members in that district. In such a case the\nbylaws shall specify the number of directors to be elected by each district, the\nmanner and method of reapportioning the directors and of redistricting the territory\ncovered by the association. The bylaws may provide that primary elections shall be\nheld in each district to elect the directors apportioned to such districts and that the\nresult of all such primary elections may be ratified by the next regular meeting of\nthe association or may be considered final as to the association. The bylaws may\nprovide that one or more directors may be appointed by any public official or\ncommission or by the other directors selected by the members or their delegates.\nSuch directors shall represent primarily the interest of the general public in such\nassociations. The director or directors so appointed need not be members of the\nassociation, but shall have the same powers and rights as other directors. Such\ndirectors shall not number more than one -fifth (1/5) of the entire number of\ndirectors.\n(2) An association may provide a fair remuneration for the time actually spent by its\nofficers and directors in its ser vice and for the service of the members of its\nexecutive committee. No director, during the term of his office, shall be a party to a\ncontract for profit with the association differing in any way from the business\nrelations accorded regular members of the association or others, or differing from\nterms generally current in that district.\n(3) The bylaws may provide for an executive committee and may allot to such\ncommittee all the functions and powers of the board of directors, subject to the\ngeneral direction and control of the board.\n(4) When a vacancy on the board of directors occurs other than by expiration of term,\nthe remaining members of the board, by a majority vote, shall fill the vacancy,\nunless the bylaws provide for an election of directors by di strict. In such a case the\nboard of directors shall immediately call a special meeting of the members in that\ndistrict to fill the vacancy.","path":["KRS Chapter 272"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=13577","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:21Z","sha256":"ded36bc569fd97c473f9edd0e65f805768c3aacca6738909f9925b1085a6d321","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272.430","next":"us-ky/krs-272.450"},"notice":"GroundRules: Original legal text. Not legal advice."}