273A.135 Transition concerning real and personal property.
167 words·~1 min read·
/ky/chapter-273a/273a-135A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)If, before June 24, 2015, an interest in property was by terms of a transfer
purportedly transferred to an unincorporated nonprofit association but under the law
of this Commonwealth the interest did not vest in the association, or in one
(1)or
more persons on behalf of the association under subsection
(2)of this section, on
June 24, 2015, the interest vests in the association, unless the parties to the transfer
have treated the transfer as ineffective.
(2)If, before June 24, 2015, an interest in property was by terms of a transfer
purportedly transferred to an unincorporated nonprofit association but the interest
was vested in one
(1)or more persons to hold the interest for or on behalf of the
association or the members of the association, on or after June 24, 2015, the
persons, or their successors in interest, may transfer the interest to the association in
its name, or the association may require that the interest be transferred to it in its
name.