{"data":{"id":"us-ky/krs-272a.12-070","jurisdiction":"us-ky","citation":"KRS 272A.12-070","heading":"Distribution of assets in winding up.","body":"(1) In winding up a limited cooperative association's business, the association shall\napply its assets to discharge its obligations to creditors, including members that are\ncreditors. The association shall apply any remaining assets to pay in money the net\namount distributable to members in accordance with their right to distributions\nunder subsection (2) of this section.\n(2) Unless the organic rules otherwise provide, in this section \"financial interests\"\nmeans the amounts recorded in the names of members in t he records of a limited\ncooperative association at the time a distribution is made, including amounts paid to\nbecome a member, amounts allocated but not distributed to members, and amounts\nof distributions authorized but not yet paid to members. Unless the  organic rules\notherwise provide, each member is entitled to a distribution from the association of\nany remaining assets in the proportion of the member's financial interests to the\ntotal financial interests of the members after all other obligations are satisfied.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41070","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:22Z","sha256":"7e9b9030d828d59b594604626ef274b8a4182cc548fa1686d62b76e5c5eb8fd9","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272a.12-060","next":"us-ky/krs-272a.12-080"},"notice":"GroundRules: Original legal text. Not legal advice."}