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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 members 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 associations existence.
Effective:July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 12, effective July 12, 2012.
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