272A.5-120 Voting requirements for members. If a limited cooperative association has both patron and investor members, the following rules apply: (1) The total voting power of all patron members may not be less than a majority of the entire voting power entitled to vote; (2) Action on any matter is approved only upon the affirmative vote of at least a majority of: (a) All members voting at the meeting unless more than a majority is required by Subchapter 4, 12, 15, or 16 of this chapter or the organic rules; and (b) Votes cast by patron members unless the organic rules require a larger affirmative vote by patron members; and (3) The organic rules may provide for the percentage of the affirmative votes that must be cast by investor members to approve the matter. Effective: July 12, 2012 History: Created 2012 Ky. Acts ch. 160, sec. 41, effective July 12, 2012.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
