2016 Kentucky Revised Statutes
CHAPTER 272A - KENTUCKY UNIFORM LIMITED COOPERATIVE ASSOCIATION ACT
Subchapter 5 - Members
272A.5-120 Voting requirements for members.

Download as PDF 272A.5-120 Voting requirements for members. If a limited cooperative association has both patron and investor members, the following rules apply: (1) The total voting power of all patron members may not be less than a majority of the entire voting power entitled to vote; (2) Action on any matter is approved only upon the affirmative vote of at least a majority of: (a) All members voting at the meeting unless more than a majority is required by Subchapter 4, 12, 15, or 16 of this chapter or the organic rules; and (b) Votes cast by patron members unless the organic rules require a larger affirmative vote by patron members; and (3) The organic rules may provide for the percentage of the affirmative votes that must be cast by investor members to approve the matter. Effective: July 12, 2012 History: Created 2012 Ky. Acts ch. 160, sec. 41, effective July 12, 2012.