{"data":{"id":"us-ky/krs-272a.1-050","jurisdiction":"us-ky","citation":"KRS 272A.1-050","heading":"Purpose and duration of limited cooperative association.","body":"(1) A limited cooperative association is an entity distinct from its members.\n(2) A limited cooperative association may be organized for any lawful purpose, whether\nor not for profit.\n(3) This chapter does not alter or amend any law that governs the licensing and\nregulation of an individual or entity in carrying on a specific business or profession\neven if that law permits the business or profession to be conducted by a limited\ncooperative association, a foreign cooperative, or its members.\n(4) A limited cooperative association may not conduct an activity that, under law of this\nstate other than this chapter, may be conducted only by an entity that meets specific\nrequirements for the internal affairs of that entity unless the organic rules of the\nassociation conform to those requirements.\n(5) Unless the articles of association state a term for a limited cooperative association's\nexistence, the association has perpetual duration.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=40981","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:21Z","sha256":"f13bd953c1262bb9471929275cb4a2ee4e31ef9b06995823c5b51be651334b5c","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272a.1-040","next":"us-ky/krs-272a.1-060"},"notice":"GroundRules: Original legal text. Not legal advice."}