If a limited cooperative association has both patron and investor members, the following rules shall apply: The total voting power of all patron members shall not be less than a majority of the entire voting power entitled to vote. Action on any matter shall be approved only upon the affirmative vote of at least a majority of: All members voting at the meeting unless more than a majority is required by subchapters IV, XII, XIV, or XV of this chapter or the organic rules; and Votes cast by patron members unless the organic rules require a larger affirmative vote by patron members. The organic rules may provide for the percentage of the affirmative votes that must be cast by investor members to approve the matter.
‹ Prev All District Of Columbia sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.