273A.040 Judgment against association.

155 words·~1 min read·/ky/chapter-273a/273a-040

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)A judgment or order against an unincorporated nonprofit association is not by

itself a judgment or order against a member or manager.

(2)Pursuant to this chapter, a judgment creditor of an unincorporated nonprofit

association shall not levy execution against the assets of a member to satisfy a

judgment based on a claim against the association unless:

(a)A judgment based on the same claim has been obtained against the

association and a writ of execution on the judgment has been returned

unsatisfied in whole or in part;

(b)The association is a debtor in bankruptcy;

(c)The member has agreed that the creditor need not exhaust association

assets; or

(d)Liability is imposed on the member by law or contract independent of the

existence of the association.

(3)Subsection

(2)of this section shall not apply to any judgment or order for which

the members are not liable in accordance with KRS 273A.030(1).