1. (a) A member of a cooperative organized without capital stock and a holder of stock, whether common or preferred, is entitled to only one vote.
2. (b) Voting by proxy is prohibited in any cooperative. Voting by mail is not voting by proxy.

3. (c) At any meeting of members, a signed written vote received by mail from any absent member may be read at the meeting and is equivalent to a vote of the member if:

   1. (1) The member was notified in writing of the exact motion or resolution on which the vote is taken; and
   2. (2) A copy of the motion or resolution is attached to the vote mailed by him.

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975.

Formerly Art. 23, § 366.