Section 514 - Voting requirements for members.

UT Code § 16-16-514 (2019) (N/A)

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(1) If a limited cooperative association has both patron and investor members, the following rules apply: (a) the total voting power of all patron members may not be less than a majority of the entire voting power entitled to vote; and (b) action on any matter is approved only upon the affirmative vote of at least a majority of: (i) all members voting at the meeting unless more than a majority is required by this chapter or the organic rules; and (ii) votes cast by patron members unless the organic rules require a larger affirmative vote by patron members.

(a) the total voting power of all patron members may not be less than a majority of the entire voting power entitled to vote; and

(b) action on any matter is approved only upon the affirmative vote of at least a majority of: (i) all members voting at the meeting unless more than a majority is required by this chapter or the organic rules; and (ii) votes cast by patron members unless the organic rules require a larger affirmative vote by patron members.

(i) all members voting at the meeting unless more than a majority is required by this chapter or the organic rules; and

(ii) votes cast by patron members unless the organic rules require a larger affirmative vote by patron members.

(2) The organic rules may provide for the percentage of the affirmative votes that must be cast by investor members to approve the matter.

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Section 515 - Manner of voting.