16-16-514 - Voting requirements for members. - Utah Statutes

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16-16-514. Voting requirements for members.
(1) If a limited cooperative association has both patron and investor members, thefollowing rules apply:
(a) the total voting power of all patron members may not be less than a majority of theentire voting power entitled to vote; and
(b) action on any matter is approved only upon the affirmative vote of at least a majorityof:
(i) all members voting at the meeting unless more than a majority is required by thischapter or the organic rules; and
(ii) votes cast by patron members unless the organic rules require a larger affirmativevote by patron members.
(2) The organic rules may provide for the percentage of the affirmative votes that mustbe cast by investor members to approve the matter.

Enacted by Chapter 363, 2008 General Session

State Codes and Statutes

Statutes > Utah > Title-16 > Chapter-16 > 16-16-514

16-16-514. Voting requirements for members.
(1) If a limited cooperative association has both patron and investor members, thefollowing rules apply:
(a) the total voting power of all patron members may not be less than a majority of theentire voting power entitled to vote; and
(b) action on any matter is approved only upon the affirmative vote of at least a majorityof:
(i) all members voting at the meeting unless more than a majority is required by thischapter or the organic rules; and
(ii) votes cast by patron members unless the organic rules require a larger affirmativevote by patron members.
(2) The organic rules may provide for the percentage of the affirmative votes that mustbe cast by investor members to approve the matter.

Enacted by Chapter 363, 2008 General Session

State Codes and Statutes

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State Codes and Statutes

Statutes > Utah > Title-16 > Chapter-16 > 16-16-514

16-16-514. Voting requirements for members.
(1) If a limited cooperative association has both patron and investor members, thefollowing rules apply:
(a) the total voting power of all patron members may not be less than a majority of theentire voting power entitled to vote; and
(b) action on any matter is approved only upon the affirmative vote of at least a majorityof:
(i) all members voting at the meeting unless more than a majority is required by thischapter or the organic rules; and
(ii) votes cast by patron members unless the organic rules require a larger affirmativevote by patron members.
(2) The organic rules may provide for the percentage of the affirmative votes that mustbe cast by investor members to approve the matter.

Enacted by Chapter 363, 2008 General Session