193.423 Allocation of voting authority among directors.
(1) The voting authority of the directors may be allocated according to allocation units or equity classifications of the cooperative if any of the following conditions is satisfied:
(a) The directors elected by patron members have collectively at least 51 percent of the voting authority of the board on general matters of the cooperative.
(b) The directors elected by patron members do not have, collectively, minority voting authority on the board on general matters of the cooperative.
(2) The patron board directors' vote shall be voted collectively as determined by a majority vote of the patron directors. A tie in the number of patron board director votes shall be construed as a vote against the matter.
History: 2005 a. 441.
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