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2018 Kentucky Revised Statutes
CHAPTER 272A - KENTUCKY UNIFORM LIMITED COOPERATIVE ASSOCIATION ACT
Subchapter 8 - Board of Directors -- Officers
272A.8-020 Liability as director for limited cooperative association's obligations.

Universal Citation: KY Rev Stat § 272A.8-020 (2018)
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272A.8-020 Liability as director for limited cooperative association's obligations. (1) (2) A debt, obligation, or other liability of a limited cooperative association is solely that of the association and is not a debt, obligation, or liability of a director solely by reason of being a director. An individual is not personally liable, directly or indirectly, for an obligation of an association solely by reason of being a director. Subsection (1) of this section shall not affect the liability of a director of an association for his or her own negligence, wrongful acts, or misconduct. Effective: July 12, 2012 History: Created 2012 Ky. Acts ch. 160, sec. 55, effective July 12, 2012.
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