{"data":{"id":"us-ky/krs-272a.12-060","jurisdiction":"us-ky","citation":"KRS 272A.12-060","heading":"Winding up.","body":"(1) A limited cooperative association continues after dissolution only for purposes of\nwinding up its activities.\n(2) In winding up a limited cooperative association's activities, the board of directors\nshall cause the association to:\n(a) Discharge its liabili ties, settle and close its activities, and marshal and\ndistribute its assets;\n(b) Preserve the association or its property as a going concern for no more than a\nreasonable time;\n(c) Prosecute and defend actions and proceedings;\n(d) Transfer association property; and\n(e) Perform other necessary acts.\n(3) After dissolution and upon application of a limited cooperative association, a\nmember, or a holder of financial rights, the appropriate court may order judicial\nsupervision of the winding up of the associati on, including the appointment of a\nperson to wind up the association's activities, if:\n(a) After a reasonable time, the association has not wound up its activities; or\n(b) The applicant establishes other good cause.\n(4) If a person is appointed pursuant to  subsection (3) of this section to wind up the\nactivities of a limited cooperative association, the association shall promptly deliver\nto the Secretary of State for filing an amendment to the articles of association to\nreflect the appointment.\n(5) Dissolution of a limited cooperative association shall not abate or suspend KRS\n272A.5-030 or 272A.8-020.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41069","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:22Z","sha256":"2a132f6456a0354f776a6cc85e94ded2b200c966d91de7aed95811c3ad2d22c6","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272a.12-050","next":"us-ky/krs-272a.12-070"},"notice":"GroundRules: Original legal text. Not legal advice."}