As used in this article, unless this article states a
different definition:
(1) The terms defined in article 90 of this title have the meanings stated in
that article unless this article states a different definition.
(2) Articles of organization or articles means the articles of organization
of a limited cooperative association required by section 7-58-302 containing
provisions required or permitted by sections 7-58-303 and 7-58-306. The term
includes the articles of organization as amended or restated.
(3) Board of directors means the board of directors of a limited cooperative
association.
(4) Bylaws means the bylaws of a limited cooperative association required
by section 7-58-304 containing provisions required or permitted by sections 7-58-305 and 7-58-306. The term includes the bylaws as amended or restated.
(5) Contribution, except as used in section 7-58-1008 (3), means a benefit
that a person provides to a limited cooperative association to become or remain a
member or in the person's capacity as a member.
(6) Cooperative means a limited cooperative association or an entity
organized under any cooperative law of any jurisdiction.
(7) Director means a director of a limited cooperative association.
(8) Distribution, except as used in section 7-58-1007 (5), means a transfer
of money or other property from a limited cooperative association to a member
because of the member's financial rights or to a transferee of a member's financial
rights.
(9) Financial rights means the right to participate in allocations and
distributions as provided in parts 10 and 12 of this article but does not include rights
or obligations under a marketing contract governed by part 7 of this article.
(10) Governance rights means the right to participate in governance of a
limited cooperative association.
(11) Investor member means a member that has made a contribution to a
limited cooperative association and that:
(a) Is not required by the articles or bylaws to conduct patronage with the
association in the member's capacity as an investor member in order to receive or
retain the member's interest; or
(b) Is not permitted by the articles or bylaws to conduct patronage with the
association in the member's capacity as an investor member in order to receive or
retain the member's interest.
(12) Limited cooperative association or association means an association
organized under this article.
(13) Member means a person that is admitted as a patron member or
investor member, or both, in a limited cooperative association. The term does not
include a person that has dissociated as a member.
(14) Member's interest means the interest of a patron member or investor
member with the attributes stated in section 7-58-601.
(15) Members meeting means an annual members meeting or special
meeting of members.
(16) Organizer means a person who is named in the articles as an organizer.
(17) Patronage means business transactions between a limited cooperative
association and a person that entitle the person to receive financial rights based on
the value or quantity of business done between the association and the person.
(18) Patron member means a member that has made a contribution to a
limited cooperative association and that:
(a) Is required by the articles or bylaws to conduct patronage with the
association in the member's capacity as a patron member in order to receive or
retain the member's interest; or
(b) Is permitted by the articles or bylaws to conduct patronage with the
association in the member's capacity as a patron member in order to receive or
retain the member's interest.
(19) Proper court means the district court for the county in this state in
which the street address of the limited cooperative association's principal office is
located or, if the association has no principal office in this state, the district court
for the county in which the street address of its registered agent is located, or, if
the association has no registered agent, the district court for the city and county of
Denver.
(20) Record, used as a noun, means information that is inscribed on a
tangible medium or that is stored in an electronic or other medium and is
retrievable in perceivable form.
(21) Required information means the information a limited cooperative
association is required to maintain under section 7-58-112.
(22) Sign means, with present intent, to authenticate or adopt a record by:
(a) Executing or adopting a tangible symbol; or
(b) Attaching to or logically associating with the record an electronic symbol,
sound, or process.
(23) Transfer includes an assignment, conveyance, deed, bill of sale, lease,
mortgage, security interest, encumbrance, gift, and transfer by operation of law.
(24) Voting group means any combination of one or more voting members
in one or more districts or classes that, under this article or the articles or bylaws,
are entitled to vote and can be counted together collectively on a matter at a
members meeting.
(25) Voting member means a member that, under this article or the articles
or bylaws, has a right to vote on matters subject to vote by members under this
article or the articles or bylaws.
(26) Voting power means the total current power of members to vote on a
particular matter for which a vote may or is to be taken.