1. (a) Unless the bylaws require the presence of a greater percentage or number of the members for a quorum, a quorum for the transaction of business at all meetings of the members of a cooperative shall be:

   1. (1) For a cooperative that has not more than 1,000 members, 5% of all members attending the meeting; and
   2. (2) For a cooperative that has more than 1,000 members, 50 members attending the meeting.
2. (b) If less than a quorum is present at any meeting, a majority of those in attendance may adjourn the meeting from time to time without further notice.

Added by Acts 2002, c. 135, § 3, eff. Oct. 1, 2002. Amended by Acts 2021, c. 273, § 1, eff. July 1, 2021; Acts 2021, c. 274, § 1, eff. July 1, 2021.