272A.1 -060 Powers. (1) A limited cooperative association may sue and be sued in its own name and do all things necessary or convenient to carry on its activities. (2) An association may maintain an action against a member for harm caused to the association by the member's violat ion of a duty to the association or of the organic law or organic rules. (3) A member of a limited cooperative association shall not be a proper party to a proceeding by or against a limited cooperative association, solely by reason of being a member of th e limited cooperative association, except if the object of the proceeding is to enforce a member's right against or liability to the limited cooperative association or as otherwise provided in an operating agreement. Effective: July 12, 2012 History: Creat ed 2012 Ky. Acts ch. 160, sec. 6, effective July 12, 2012.
Kentucky Legal Code