(1) If a limited cooperative association has both patron and investor members, the following rules apply:
- (a) the total voting power of all patron members may not be less than a majority of the entire voting power entitled to vote; and
(b) action on any matter is approved only upon the affirmative vote of at least a majority of:
- (i) all members voting at the meeting unless more than a majority is required by this chapter or the organic rules; and
- (ii) votes cast by patron members unless the organic rules require a larger affirmative vote by patron members.
- (2) The organic rules may provide for the percentage of the affirmative votes that must be cast by investor members to approve the matter.
Enacted by Chapter 363, 2008 General Session