{"data":{"id":"us-ky/krs-272a.1-040","jurisdiction":"us-ky","citation":"KRS 272A.1-040","heading":"Nature of limited cooperative association.","body":"(1) A limited cooperative association organized under this chapter is an autonomous,\nunincorporated association of persons united to meet their mutual interests through\na jointly owned enterprise primarily controlled by those persons, which permits\ncombining:\n(a) Ownership, financing, and receipt of benefits by the members for whose\ninterests the association is formed; and\n(b) Separate investments in the association by members who may receive returns\non their investments and a share of control.\n(2) The fact that a limited cooperative association does not have one (1) or more of the\ncharacteristics described in subsection (1) of this section does not alone prevent the\nassociation from being formed under and governed by this chapter, nor does it alone\nprovide a basis for an action against the association.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40980","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:21Z","sha256":"4f7e075d17a9330a97f1477a6491873617dc782c6d679a91e4099311f9b0496c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272a.1-030","next":"us-ky/krs-272a.1-050"},"notice":"GroundRules: Original legal text. Not legal advice."}