(1) A statement of the capital structure of the limited cooperative association, including:

1. (A) the classes or other types of members’ interests and relative rights, preferences, and restrictions granted to or imposed upon each class or other type of member’s interest; and
2. (B) the rights to share in profits or distributions of the association;

(6) A statement concerning:

1. (A) whether persons that are not members but conduct business with the association may be permitted to share in allocations of profits and losses and receive distributions; and
2. (B) the manner in which profits and losses are allocated and distributions are made with respect to those persons; and

(c) In addition to amendments permitted under Article 4 of the Uniform Limited Cooperative Association Act of 2009, the initial board of directors may amend the bylaws by a majority vote of the directors at any time before the admission of members.

Historical Data Laws 2009, HB 2148, c. 68, § 32, eff. January 1, 2010.