{"data":{"id":"us-ky/krs-272a.12-100","jurisdiction":"us-ky","citation":"KRS 272A.12-100","heading":"Court proceedings.","body":"(1) Upon application by a dissolved limited cooperative association that has published a\nnotice under KRS 272A.12 -090, the appropriate court may determine the amount\nand form of security to be provided for payment of claims against the association\nthat are con tingent, have not been made known to the association, or are based on\nan event occurring after the effective date of dissolution but that, based on the facts\nknown to the association, are reasonably anticipated to arise after the effective date\nof dissolution.\n(2) Not later than ten (10) days after filing an application under subsection (1) of this\nsection, a dissolved limited cooperative association shall give notice of the\nproceeding to each known claimant holding a contingent claim.\n(3) The court may app oint a guardian ad litem in a proceeding brought under this\nsection to represent all claimants whose identities are unknown, including those\nwhose claims are contingent or based upon an event occurring after the effective\ndate of dissolution. The dissolved  limited cooperative association shall pay\nreasonable fees and expenses of the representative, including all reasonable attorney\nand expert witness fees.\n(4) Provision by the dissolved limited cooperative association for security in the\namount and the form ordered by the court satisfies the association's obligations with\nrespect to claims that are contingent, have not been made known to the association,\nor are based on an event occurring after the effective date of dissolution, and the\nclaims may not be enforced against a member that received a distribution.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41073","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:23Z","sha256":"c5f53bae8dc6712553db08c0442f4b588b5648250825fbcd4c1373d90c66b8b7","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272a.12-090","next":"us-ky/krs-272a.12-110"},"notice":"GroundRules: Original legal text. Not legal advice."}