{"data":{"id":"us-ky/krs-272a.4-020","jurisdiction":"us-ky","citation":"KRS 272A.4-020","heading":"Notice and action on amendment of organic rules.","body":"(1) Except as provided in KRS 272A.4 -010(1) and 272A.4-050(6), the organic rules of\na limited cooperative association may be amended only at a members meeting. An\namendment may be proposed by either:\n(a) A majority of the board of directors, or a greater perce ntage if required by the\norganic rules; or\n(b) One (1) or more petitions signed by at least ten percent (10%) of the patron\nmembers or at least ten percent (10%) of the investor members.\n(2) The board of directors shall call a members meeting to consider a n amendment\nproposed pursuant to subsection (1) of this section. The meeting shall be held not\nlater than ninety (90) days following the proposal of the amendment by the board or\nreceipt of a petition. The board shall mail or otherwise transmit or deliver in a\nrecord to each member:\n(a) The proposed amendment, or a summary of the proposed amendment and a\nstatement of the manner in which a copy of the amendment in a record may be\nreasonably obtained by a member;\n(b) A recommendation that the members approve the amendment, or if the board\ndetermines that because of conflict of interest or other special circumstances it\nshould not make a favorable recommendation, the basis for that\ndetermination;\n(c) A statement of any condition of the board's submission of the  amendment to\nthe members; and\n(d) Notice of the meeting at which the proposed amendment will be considered,\nwhich shall be given in the same manner as notice for a special meeting of\nmembers.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41000","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:22Z","sha256":"43b7ffe54c503111facb5e848f6535d98dbca063f695e294c88a5f6478ea000a","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272a.4-010","next":"us-ky/krs-272a.4-030"},"notice":"GroundRules: Original legal text. Not legal advice."}