§ 7-58-112 — Required information

(1) Subject to subsection (2) of this section,
a limited cooperative association shall maintain in a record available at its principal
office:

(a) A list containing the name, last-known street address and, if different,
mailing address, and term of office of each director and officer;

(b) The initial articles and all amendments to and restatements of the
articles;

(c) The initial bylaws and all amendments to and restatements of the bylaws;

(d) All filed statements of merger and statements of conversion;

(e) All annual financial statements of the association for the three most
recent fiscal years;

(f) The minutes of members meetings and records of all action taken by
members without a meeting for the three most recent years;

(g) A list containing:

(I) The name, in alphabetical order, and last-known street address and, if
different, mailing address of each patron member and each investor member; and

(II) If the association has districts or classes of members, information from
which each member in a district or class may be identified;

(h) The federal income tax returns and any state and local income tax
returns of the association for the three most recent years;

(i) Accounting records maintained by the association in the ordinary course
of its operations for the three most recent years;

(j) The minutes of all directors meetings and records of all action taken by
directors without a meeting for the three most recent years;

(k) The amount of money contributed and agreed to be contributed by each
member;

(l) A description and statement of the agreed value of contributions other
than money made and agreed to be made by each member;

(m) The times at which, or events on the happening of which, any additional
contribution is to be made by each member;

(n) For each member, a description and statement of the member's interest
or information from which the description and statement can be derived; and

(o) All communications concerning the association made in a record to all
members, or to all members in a district or class, for the three most recent years.

(2) If a limited cooperative association has existed for less than the period
for which records must be maintained under subsection (1) of this section, the
period for which records must be kept is the period of the association's existence.

(3) The articles or bylaws may require that more information be maintained.

Legislative History

Source: L. 2011: Entire article added, (SB 11-191), ch. 197, p. 767, � 1, effective April 2, 2012.