{"data":{"id":"us-ky/krs-279.095","jurisdiction":"us-ky","citation":"KRS 279.095","heading":"Nonprofit operation.","body":"A rural electric cooperative shall be operated on a nonprofit basis for the mutual benefit\nof its members and patrons. The bylaws of a cooperative or its contracts with members\nand patrons shall contain such provisions relative to the disposition of revenu e and\nreceipts as may be necessary and appropriate to establish and maintain its nonprofit and\ncooperative character. In the case of a cooperative authorized to issue shares of stock,\nsuch bylaws or contracts shall provide that no moneys shall be paid or c redits given on\nthe basis of patronage except after the declaration or payment of dividends on the\noutstanding shares of stock in accordance with the articles of incorporation of the\ncooperative, and such bylaws or contracts shall otherwise be consistent w ith the\ncooperative's obligations in respect of such shares of stock.","path":["KRS Chapter 279"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14192","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:31Z","sha256":"27b8403aacaf22fadc20f59993bbb7fd4ef2be4d9b7457d389bc4b7082d45abc","source_id":"us-ky","stale":false,"prev":"us-ky/krs-279.090","next":"us-ky/krs-279.100"},"notice":"GroundRules: Original legal text. Not legal advice."}