272.991 Additional penalties for violation of KRS 506.010, 506.030, 506.040,
202 words·~1 min read·
/ky/272-991A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
521.020, or 521.050.
(1)If a domestic cooperative corporation or association is convicted of a violation of
KRS 506.010, 506.030, 506.040, 521.020, or 521.050, or if an officer, employee, or
agent of the corporation or association is convicted of violating any section
specified above under circumstances which bring corporate liability under KRS
502.050(1)(b), the court shall order that the charter of the corporation or association
be suspended for a period of not more than five
(5)years for a first offense, ten
years for a second offense, and permanently for a third or subsequent offense.
(2)If a foreign cooperative corporation or association is convicted of violating any
section specified in subsection
(1)of this section, or if an officer, employee, or
agent of the corporation or association violates any of those sections under
circumstances which bring corporate liability under KRS 502.050(1)(b), the court
shall order that the corporation or association not be permitted to do business in
Kentucky for the appropriate period specified in subsection
(1)of this section.
(3)The penalties specified in this section shall be in addition to any other penalty
specified by law for the commission of the offenses listed in subsection
(1)of this
section.