- (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 violation 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 the 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: Created 2012 Ky. Acts ch. 160, sec. 6, effective July 12, 2012.