{"data":{"id":"us-ky/krs-272a.10-030","jurisdiction":"us-ky","citation":"KRS 272A.10-030","heading":"Contribution agreements.","body":"(1) Except as otherwise provided in the agreement, the following rules apply to an\nagreement made by a person before formation of a limited cooperative association\nto make a contribution to the association:\n(a) The agreement is irrevocable for six (6) months a fter the agreement is signed\nby the person unless all parties to the agreement consent to the revocation; and\n(b) If a person does not make a required contribution:\n1. The person is obligated, at the option of the association, once formed, to\ncontribute money equal to the value of that part of the contribution that\nhas not been made, and the obligation may be enforced as a debt to the\nassociation; or\n2. The association, once formed, may rescind the agreement if the debt\nremains unpaid more than twenty (20) days after the association\ndemands payment from the person, and upon rescission the person has\nno further rights or obligations with respect to the association.\n(2) With respect to any agreement to make a contribution to a limited cooperative\nassociation made at the time of or subsequent to its formation, unless the organic\nrules or an agreement to make a contribution to a limited cooperative association\notherwise provide, if a person does not make a required contribution to an\nassociation, the person or th e person's estate is obligated, at the option of the\nassociation, to contribute money equal to the value of the part of the contribution\nwhich has not been made.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41055","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:22Z","sha256":"5379777db1d2d08e8eff42f85862b9cf1c2894fce40b5d5b9926a53003566737","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272a.10-020","next":"us-ky/krs-272a.10-040"},"notice":"GroundRules: Original legal text. Not legal advice."}