279.020 Who may incorporate.
163 words·~1 min read·
/ky/chapter-279/279-020A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any three
(3)or more individuals, partnerships, associations, or private corporations, a majority of whom are citizens of Kentucky, may by executing, filing, and recording articles of incorporation as provided in KRS 279.030 and 279.040 organize to conduct a nonprofit cooperative corporation for the:
(1)Primary purpose of generating, purchasing, selling, transmitting, or distributing
electric energy to any individual or entity, and providing any good or service related
to generating, purchasing, selling, transmitting, or distributing electric energy to any
individual or entity; and
(2)If the cooperative desires, for the secondary purpose of engaging in any other lawful
business or activity, provided that any nonregulated business or activity is
conducted through an affiliate except for any business or activity which does not
involve the sale of a product that is conducted pursuant to a contract with a federal
military installation or a contract for administrative services which does not involve
the sale of a product requested by a local, state, or federal government.