Colorado § 7-58-512 Determination of voting power of patron member

Colorado Statutes

§ 7-58-512 — Determination of voting power of patron member

Colorado·Title 07 Corporations·Art. Uniform Limited Cooperative Association Act

(1)The articles or bylaws may allocate voting power among patron members on the basis of one or a combination of the following:

(a)One member, one vote;

(b)Use or patronage;

(c)Equity; or

(d)If a patron member is a cooperative, the number of its patron members.

(2)If the articles or bylaws allocate voting power on the basis of use or patronage and a member would be denied a vote because the member did not use the limited cooperative association or conduct patronage with it during the period on which the allocation of voting power is determined, the articles or bylaws must provide that the member shall nevertheless be allocated a vote equal to at least the minimum voting power allocated to members who used the association or conducted patronage with it during the period.

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(1) The articles
or bylaws may allocate voting power among patron members on the basis of one or
a combination of the following:

(a) One member, one vote;

(b) Use or patronage;

(c) Equity; or

(d) If a patron member is a cooperative, the number of its patron members.

(2) If the articles or bylaws allocate voting power on the basis of use or
patronage and a member would be denied a vote because the member did not use
the limited cooperative association or conduct patronage with it during the period
on which the allocation of voting power is determined, the articles or bylaws must
provide that the member shall nevertheless be allocated a vote equal to at least the
minimum voting power allocated to members who used the association or
conducted patronage with it during the period.

(3) The articles or bylaws may provide for the allocation of patron member
voting power by districts or class or any combination thereof.

Colorado § 7-58-512 (Determination of voting power of patron member) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.