(a) (1) Each incorporator of a cooperative shall be a member of the cooperative.
(2) A person other than an incorporator may become a member of the cooperative if the person agrees to use electricity or other services supplied by the cooperative when the electricity or services are made available through the cooperative’s facilities.
(b) The bylaws may provide additional qualifications for and limitations on membership.
(c) The membership of a member of a cooperative who agrees to use electricity shall terminate if:
(1) The member does not use electricity supplied by the cooperative within 6 months after it is made available to the member; or
(2) The cooperative does not make electricity available to the member within 2 years after the person becomes a member or within any shorter period provided by the bylaws of the cooperative.
(d) A husband and wife may hold a joint membership in a cooperative.
(e) Unless the bylaws provide otherwise, membership in a cooperative is not transferable.
(f) (1) A member of a cooperative is not liable for the debts of the cooperative.
(2) The property of a member of a cooperative is not subject to execution for the debts of the cooperative.
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.
