501A.507 - COOPERATIVE RECORDS.

        501A.507  COOPERATIVE RECORDS.         1.  Permanent records required to be kept.  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.         2.  Accounting records.  A cooperative shall maintain      appropriate accounting records.         3.  Format.  A cooperative shall maintain its records in      written form or in another form capable of conversion into written      form within a reasonable time.         4.  Copies.  A cooperative shall keep a copy of each of the      following records at its principal office:         a.  Its articles and other governing instruments.         b.  Its bylaws or other similar instruments.         c.  A record of the names and addresses of its members, in a      form that allows preparation of an alphabetical list of members with      each member's address.         d.  The minutes of members' meetings, and records of all      actions taken by members without a meeting by unanimous written      consent in lieu of a meeting, for the past three years.         e.  All written communications within the past three years to      members as a group or to any class of members as a group.         f.  A list of the names and business addresses of its current      board members and officers.         g.  All financial statements prepared for periods ending      during the last fiscal year.         5.  Policy.  Except as otherwise limited by this chapter, the      board 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.  
         Section History: Recent Form
         2005 Acts, ch 135, §31         Referred to in § 501A.801