§ 43-38-529. Member Liability
A member is not, merely on account of that status, personally liable for the acts, debts, liabilities, or obligations of a cooperative. A member is liable for any unpaid subscription for the membership interest, unpaid membership fees, or a debt for which the member has separately contracted with the cooperative.
§ 43-38-530. Inspection and Copying of Records by Members
A member of the cooperative is entitled to inspect and copy, during regular business hours at the cooperative’s principal executive office, any of the records of the cooperative described in § 43-38-118, if the member gives the cooperative written notice of the demand at least five (5) business days before the date on which the […]
§ 43-38-531. Inspection and Copying of Records by Member’s Agent or Attorney
A member’s agent or attorney has the same inspection and copying rights as the member the agent or attorney represents. The right to copy records under § 43-38-530 includes, if reasonable, the right to receive copies made by photographic, xerographic, or other means. The cooperative may impose a reasonable charge, covering the costs of labor […]
§ 43-38-532. Enforcement of Right to Inspect and Copy Records
If a cooperative does not allow a member who complies with § 43-38-530(a) to inspect and copy any records required by that subsection to be available for inspection, a court in the county where the cooperative’s principal executive office, or, if none in this state, its registered office, is located may summarily order inspection and […]
§ 43-38-601. Powers
All powers shall be exercised by or under the authority of, and the business and affairs of the cooperative shall be managed by or under the direction of the board of directors, subject to subsection (b) and any limitations set forth in the articles or bylaws agreement. A cooperative shall be board-managed, as designated in […]
§ 43-38-518. Proposal to Take Action Without a Meeting — Notice — Procedure for Calling a Meeting
Except with respect to dissolution, liquidation or merger, the board of directors may, acting on the board’s initiative, make a proposal to the members to take an action without a meeting. All members entitled to vote shall be given written notice of the proposal. The notice shall require a written response within a specified time, […]
§ 43-38-519. Quorum Requirements
The quorum for a members’ meeting to transact business shall be: Ten percent (10%) of the total number of members for a cooperative with five hundred (500) or fewer members; or Fifty (50) members for cooperatives with more than five hundred (500) members. In determining a quorum at a meeting, on a question submitted to […]
§ 43-38-520. Action of Members After Vote — Class or Series of Memberships
The members shall take action by the affirmative vote of the owners of the greater of: A majority of the voting power of the membership interests present and entitled to vote on that item of business in a meeting in which a quorum is present; or A majority of the voting power that would constitute […]
§ 43-38-521. Proxy Voting Prohibited
Voting shall not be by proxy, except as provided in § 43-38-522(d).
§ 43-38-522. Number of Votes Allowed — Time for Voting — Method of Voting — Members Represented by Delegates — Absentee Ballots
A patron member of a cooperative is only entitled to one (1) vote on an issue to be voted upon by members holding patron membership interests, except that a patron member of a cooperative described in § 43-38-523 may be entitled to more than one (1) vote as provided in that section. On any matter […]