{"data":{"id":"us-ky/krs-272a.16-050","jurisdiction":"us-ky","citation":"KRS 272A.16-050","heading":"Notice of and action on plan of merger.","body":"(1) For a limited cooperative association to merge with another entity, a plan of merger\nshall be approved by a majority vote of the board of directors or a greater\npercentage if required by the association's organic rules.\n(2) The board of directors shall cal l a members meeting to consider a plan of merger\napproved by the board, hold the meeting not later than ninety (90) days after\napproval of the plan by the board, and mail or otherwise transmit or deliver in a\nrecord to each member:\n(a) The plan of merger, or a summary of the plan, and a statement of the manner\nin which a copy of the plan in a record may be reasonably obtained by a\nmember;\n(b) A recommendation that the members approve the plan of merger, or if the\nboard determines that because of conflict of  interest or other special\ncircumstances it should not make a favorable recommendation, the basis for\nthat determination;\n(c) A statement of any condition of the board's submission of the plan of merger\nto the members; and\n(d) Notice of the meeting at whic h the plan of merger will be considered, which\nshall be given in the same manner as notice of a special meeting of members.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41090","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:23Z","sha256":"b56593f37bfed1a02c7844151d4bae11da414a1f2ef784bc9350f1d46c010147","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272a.16-040","next":"us-ky/krs-272a.16-060"},"notice":"GroundRules: Original legal text. Not legal advice."}