501A.812 - VOTING RIGHTS.

        501A.812  VOTING RIGHTS.         1.  Determination.  The board may fix a date not more than      sixty days, or a shorter time period provided in the articles or      bylaws, before the date of a meeting of members as the date for the      determination of the owners of membership interests entitled to      notice of and entitled to vote at the meeting.  When a date is so      fixed, only members on that date are entitled to notice of and      permitted to vote at that meeting of members.         2.  Nonmembers.  The articles or bylaws may give or prescribe      the manner of giving a creditor, security holder, or other person a      right to vote on patron membership interests under this section.         3.  Jointly owned membership interests.  Membership interests      owned by two or more members may be voted by any one of them unless      the cooperative receives written notice from any one of them denying      the authority of that person to vote those membership interests.         4.  Manner of voting and presumption.  Except as provided in      subsection 3, an owner of a nonpatron membership interest or a patron      membership interest with more than one vote that is entitled to vote      may vote any portion of the membership interest in any way the member      chooses.  If a member votes without designating the proportion voted      in a particular way, the member is considered to have voted all of      the membership interest in that way.  
         Section History: Recent Form
         2005 Acts, ch 135, §62