CORPORATIONS, ASSOCIATIONS, AND PROPRIETORS OF COMMON LANDS
CONSUMERS' COOPERATIVE ASSOCIATIONS
Each member of an association shall have only one vote. Voting power shall be distributed on the basis of one vote per natural person or member. The certificate of organization may prescribe the voting rights of member associations in another consumer cooperative; provided, that voting by such member associations shall be based strictly on a one-member-one-vote rule regardless of the number of shares held by such associations. The bylaws of the association may provide methods by which members are allowed to vote by absentee ballot on the election of officers and other matters submitted to a vote of the members.
Source. 1983, 462:1. 2001, 197:7, eff. Sept. 3, 2001.