{"data":{"id":"us-ky/krs-275.525","jurisdiction":"us-ky","citation":"KRS 275.525","heading":"Loans to members and managers by nonprofit limited liability company","body":"prohibited -- Exception for some business entities.\n(1) Unless a nonprofit limited liability company has only business entities formed for a\nnonprofit purpose as its members, no lo an shall be made by the company to its\nmembers or managers, and any member or manager who assents to or participates in\nthe making of a loan violating this prohibition shall be liable to the company for the\namount of the loan until its repayment.\n(2) No loan shall be made by a nonprofit limited liability company to its managers, and\nany member or manager who assents to or participates in the making of a loan\nviolating this prohibition shall be liable to the company for the amount of the loan\nuntil its repayment.","path":["KRS Chapter 275"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=44362","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:28Z","sha256":"56565333fadbe6f40429f33be37ae964b5f2b0d1c55ec17baecf4cc2ee590604","source_id":"us-ky","stale":false,"prev":"us-ky/krs-275.520","next":"us-ky/krs-275.530"},"notice":"GroundRules: Original legal text. Not legal advice."}