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272A.1-120 Required information.
(1)
Subject to subsection (2) of this section, a limited cooperative association shall
maintain in a record available at its principal office:
(a) A list containing the name, last known street address and, if different, mailing
address, and term of office of each director and officer;
(b) The initial articles of association and all amendments to and restatements of
the articles, together with a signed copy of any power of attorney under which
any article, amendment, or restatement has been signed;
(c) The initial bylaws and all amendments to and restatements of the bylaws;
(d) All filed articles of merger and statements of conversion;
(e) All financial statements of the association for the six (6) most recent years;
(f) The six (6) most recent annual reports delivered by the association to the
Secretary of State;
(g) The minutes of members meetings for the six (6) most recent years;
(h) Evidence of all actions taken by members without a meeting for the six (6)
most recent years;
(i) A list containing:
1.
The name, in alphabetical order, and last known street address and, if
different, mailing address of each patron member and each investor
member; and
2.
If the association has districts or classes of members, information from
which each current member in a district or class may be identified;
(j) The federal income tax returns, any state and local income tax returns, and any
tax reports of the association for the six (6) most recent years;
(k) Accounting records maintained by the association in the ordinary course of its
operations for the six (6) most recent years;
(l) The minutes of directors meetings for the six (6) most recent years;
(m) Evidence of all actions taken by directors without a meeting for the six (6)
most recent years;
(n) The amount of money contributed and agreed to be contributed by each
member;
(o) A description and statement of the agreed value of contributions other than
money made and agreed to be made by each member;
(p) The times at which, or events on the happening of which, any additional
contribution is to be made by each member;
(q) For each member, a description and statement of the member's interest or
information from which the description and statement can be derived; and
(r) All communications concerning the association made in a record to all
members, or to all members in a district or class, for the six (6) most recent
years.
(2)
If a limited cooperative association has existed for less than the period for which
records must be maintained under subsection (1) of this section, the period records
shall be kept is the period of the association's existence.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 12, effective July 12, 2012.
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