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272A.5-060 Special meeting of members.
(1)
(2)
(3)
(4)
(5)
(6)
(7)
A special meeting of members may be called only:
(a) As provided in the organic rules;
(b) By a majority vote of the board of directors on a proposal stating the
purpose of the meeting;
(c) By demand in a record signed by members holding at least twenty
percent (20%) of the voting power of the persons in any district or class
entitled to vote on the matter that is the purpose of the meeting stated in
the demand; or
(d) By demand in a record signed by members holding at least ten percent
(10%) of the total voting power of all the persons entitled to vote on the
matter that is the purpose of the meeting stated in the demand.
A demand under subsection (1)(c) or (d) of this section shall be submitted to
the officer of the limited cooperative association charged with keeping its
records.
Any voting member may withdraw its demand under subsection (1)(c) or (d) of
this section before receipt by the limited cooperative association of demands
sufficient to require a special meeting of members.
A special meeting of members may be held inside or outside this state at the
place stated in the organic rules or selected by the board of directors not
inconsistent with the organic rules.
Unless the organic rules otherwise provide, members may attend or conduct a
special meeting of members through the use of any means of communication if
all members attending the meeting can communicate with each other during
the meeting.
Only business within the purpose or purposes stated in the notice of a special
meeting of members may be conducted at the meeting.
Unless the organic rules otherwise provide, the presiding officer of a special
meeting of members shall be designated by the board of directors.
Effective:July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 35, effective July 12, 2012.
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