{"data":{"id":"us-ky/krs-272a.5-040","jurisdiction":"us-ky","citation":"KRS 272A.5-040","heading":"Right of member to information.","body":"(1) Not later than ten (10) business days after receipt of a demand made in a record, a\nlimited cooperative association shall permit a member to obtain, inspect, and copy\nin the association's principal office required information listed in KRS 272A.1 -\n120(1)(a) to (h) during regular business hours. A member need not have any\nparticular purpose for seeking the information. The association is not required to\nprovide the same information listed in KRS 272A.1 -120(1)(b) to (h) to the same\nmember more than once during a six (6) month period.\n(2) On demand made in a record received by the limited cooperative association, a\nmember may obtain, inspect, and copy in the association's principal office required\ninformation listed in KRS 272A.1 -120(1)(i), (j), (l), (m), (p), a nd (r) during regular\nbusiness hours, if:\n(a) The member seeks the information in good faith and for a proper purpose\nreasonably related to the member's interest;\n(b) The demand includes a description with reasonable particularity of the\ninformation sought and the purpose for seeking the information;\n(c) The information sought is directly connected to the member's purpose; and\n(d) The demand is reasonable.\n(3) Not later than ten (10) business days after receipt of a demand pursuant to\nsubsection (2) of this  section, a limited cooperative association shall provide, in a\nrecord, the following information to the member that made the demand:\n(a) If the association agrees to provide the demanded information:\n1. What information the association will provide in res ponse to the\ndemand; and\n2. A reasonable time and place at which the association will provide the\ninformation; or\n(b) If the association declines to provide some or all of the demanded\ninformation, the association's reasons for declining.\n(4) A person diss ociated as a member may obtain, inspect, and copy information\navailable to a member under subsection (1) or (2) of this section by delivering a\ndemand in a record to the limited cooperative association in the same manner and\nsubject to the same conditions applicable to a member under subsection (2) of this\nsection if:\n(a)  The information pertains to the period during which the person was a member\nin the association; and\n(b)  The person seeks the information in good faith.\n(5) A limited cooperative association shall respond to a demand made pursuant to\nsubsection (4) of this section in the manner provided in subsection (3) of this\nsection.\n(6) Not later than ten (10) business days after receipt by a limited cooperative\nassociation of a demand made by a member in a record, but not more often than\nonce in a six (6) month period, the association shall deliver to the member a record\nstating the information with respect to the member required by KRS 272A.1 -\n120(1)(q).\n(7) A limited coo perative association may impose reasonable restrictions, including\nnondisclosure restrictions, on the use of information obtained under this section.\nExcept as to limitations set forth in organic rules to which a member requesting\ninspection has assented, in a dispute concerning the reasonableness of a restriction\nunder this subsection, the association has the burden of proving reasonableness.\n(8) A limited cooperative association may charge a person that makes a demand under\nthis section the reasonable cos ts of copying, limited to the costs of labor and\nmaterial.\n(9) A person that may obtain information under this section may obtain the information\nthrough an attorney or other agent. A restriction imposed on the person under\nsubsection (7) of this section o r by the organic rules applies to the attorney or other\nagent.\n(10) The rights stated in this section do not extend to a person as transferee.\n(11) The organic rules may require a limited cooperative association to provide more\ninformation than required by  this section, and the organic rules may establish\nconditions and procedures for providing the information.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=41009","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:22Z","sha256":"0c85b6feb078ccc8b7d8abb0d72f5655d86dea03ca67f53478b50c51d3936a64","source_id":"us-ky","stale":false,"prev":"us-ky/krs-272a.5-030","next":"us-ky/krs-272a.5-050"},"notice":"GroundRules: Original legal text. Not legal advice."}