{"data":{"id":"us-ky/krs-279.440","jurisdiction":"us-ky","citation":"KRS 279.440","heading":"Consolidation.","body":"(1) Any two (2) or more cooperatives (each of which is hereinafter designated a\n\"consolidating cooperative\"), may consolidate into a new cooperative (hereinafter\ndesignated the \"new cooperative\"), by complying with the following requirements\nof this section.\n(2) The proposition for the consolidation of the consolidating cooperative into the new\ncooperative and proposed articles of consolidation to give effect thereto shall be\nsubmitted to a meeting of the members of each consolidating cooperative, the notice\nof which shall have attached thereto a copy of the proposed articles of\nconsolidation.\n(3) If the proposed consolidation and the proposed articles of consolidation with any\namendments are approved by the affirmative vote of not less than two -thirds (2/3)\nof those members of each consolidating cooperative voting thereon at each such\nmeeting, articles of consolidation in the form approved shall be executed and\nacknowledged on behalf of each consolidating cooperative by its president or vice\npresident and its seal shall be affixed thereto and attested by its secretary. The\narticles of consolidation shall recite that they are executed pursuant to this section\nand shall state:\n(a) The name of each consolidating cooperative and the address of its principal\noffice;\n(b) The name of the new cooperative and the address of its principal office;\n(c) A statement that each consolidating cooperative agrees to the consolidation;\n(d) The names and addresses of the trustees of the new cooperative; and\n(e) The terms and co nditions of the consolidation and the mode of carrying the\nsame into effect, including the manner in which members and shareholders, if\nany, of the consolidating cooperative may or shall become members and\nshareholders, respectively, of the new cooperative ; and may contain any\nprovisions not inconsistent with KRS 279.310 to 279.600 deemed necessary\nor advisable for the conduct of the business of the new cooperative.\n(4) The president or vice president of each consolidating cooperative executing such\narticles of consolidation shall make and annex thereto an affidavit stating that the\nprovisions of this section in respect of such articles were duly complied with by\nsuch cooperative.","path":["KRS Chapter 279"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14220","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:31Z","sha256":"780ca5ed242c1872eebfa6e14a7637ea91df7f05763a54a542668a3eec9a5f66","source_id":"us-ky","stale":false,"prev":"us-ky/krs-279.430","next":"us-ky/krs-279.450"},"notice":"GroundRules: Original legal text. Not legal advice."}