272A.1-130 Dual capacity -- Business transactions of member with limited cooperative association. (1) A person may have a patron member's interest and an investor member's interest. (2) When a person acts as a patron member, the person is subject to this chapter and the organic rules governing patron members. (3) When a person acts as an investor member, the person is subject to this chapter and the organic rules governing investor members. (4) Subject to KRS 272A.8-180 and 272A.8-190 and except as otherwise provided in the organic rules or a specific contract relating to a transaction, a member may lend money to and transact other business with a limited cooperative association in the same manner as a person that is not a member. Effective: July 12, 2012 History: Created 2012 Ky. Acts ch. 160, sec. 13, effective July 12, 2012.
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