(1) A cooperative shall keep as permanent records minutes of all meetings of its members and of the board, a record of all actions taken by the members or the board without a meeting by a written unanimous consent in lieu of a meeting, and a record of all waivers of notices of meetings of the members and of the board.
A cooperative shall maintain appropriate accounting records.
A cooperative shall maintain its records in written form or in another form capable ofconversion into written form within a reasonable time.
A cooperative shall keep a copy of each of the following records at its principaloffice:
Its articles of incorporation or other governing instrument;
Its bylaws or other similar instrument;
A record of the names and addresses of its members, in a form that permits preparation of a list of members that is alphabetical and that shows each member's address and the investment qualifying a member to vote held by each member;
The minutes of members' meetings, and records of all actions taken by memberswithout a meeting by unanimous written consent in lieu of a meeting, for the past three years;
All written communications within the past three years to members as a group or toany class of members as a group;
A list of the names and business addresses of its current board of directors and officers;
A copy of its most recent periodic report delivered to the secretary of state pursuantto part 5 of article 90 of this title; and
All financial statements prepared for periods ending during the last fiscal year.
(5) Except as otherwise limited by this article, the board of directors of a cooperative shall have discretion to determine what records are appropriate for the purposes of the cooperative, the length of time records are to be retained, and policies relating to the confidentiality, disclosure, inspection and copying of the records of the cooperative.
Source: L. 96: Entire article R&RE, p. 483, § 1, effective July 1. L. 2000: (4)(g) amended, p. 950, § 6, effective July 1. L. 2003: (4)(g) amended, p. 2220, § 70, effective July 1, 2004. L. 2010: (4)(g) amended, (HB 10-1403), ch. 404, p. 1994, § 4, effective August 11.
Editor's note: This section is similar to former § 7-56-122 as it existed prior to 1996.