Subdivision 1. Voting by members that are cooperatives or associations. A cooperative that is constituted entirely or partially of other cooperatives or associations may authorize by the articles or the bylaws for affiliated cooperative members to have an additional vote for:
(1) a stipulated amount of business transacted between the member cooperative and the cooperative central organization;
(2) a stipulated number of members in the member cooperative;
(3) a certain stipulated amount of equity allocated to or held by the member cooperative in the cooperative central organization; or
(4) a combination of methods in clauses (1) to (3).
Subd. 2. Voting by members who are not cooperatives or associations. A cooperative that is constituted partially of other cooperatives or associations and partially of members who are not cooperatives or associations, and that has its members who are not cooperatives or associations organized into local units of members, may, by the articles or the bylaws, authorize the delegates elected by its members who are not cooperatives or associations, and who are organized into local units of members, to have an additional vote for:
(1) a stipulated amount of business transacted between the members in the voting units and the cooperative;
(2) a certain stipulated amount of equity allocated to or held by the members of the voting units in the cooperative; or
(3) a combination of methods in clauses (1) and (2).
History:1989 c 144 art 1 s 35; 1989 c 356 s 3; 1995 c 150 s 3