(1)Unless the articles or bylaws
require that action be taken at a members meeting, any action required or
permitted by this article to be taken at a members meeting may be taken without a
meeting if notice of the proposed action is given as provided in subsection (6) of
this section, and:
(a)All of the members entitled to vote thereon consent to the action in a
record; or
(b)If expressly provided for in the articles, the members holding
membership interests having not less than the minimum number of votes that
would be necessary to authorize or take the action at a meeting at which all of the
membership interests entitled to vote thereon were present and voted consent to
the action in a record.
(2)(a) No action taken pursuant to this section is effective unless, within
si
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(1) Unless the articles or bylaws
require that action be taken at a members meeting, any action required or
permitted by this article to be taken at a members meeting may be taken without a
meeting if notice of the proposed action is given as provided in subsection (6) of
this section, and:
(a) All of the members entitled to vote thereon consent to the action in a
record; or
(b) If expressly provided for in the articles, the members holding
membership interests having not less than the minimum number of votes that
would be necessary to authorize or take the action at a meeting at which all of the
membership interests entitled to vote thereon were present and voted consent to
the action in a record.
(2) (a) No action taken pursuant to this section is effective unless, within
sixty days after the date the limited cooperative association first receives a record
describing and consenting to the action and signed by a member, the association
has received records that describe and consent to the action, signed by members
holding at least the number of votes entitled to be voted on the action as required
by subsection (1) of this section, disregarding any record that has been revoked
pursuant to subsection (3) of this section. The articles or bylaws may provide for the
receipt of any record by the association by electronically transmitted facsimile or
other form of wire or wireless communication providing the association with a
complete copy thereof, including a copy of the signature thereon.
(b) Action taken pursuant to this section is effective as of the date the
limited cooperative association receives the last record necessary to effect the
action unless all of the records necessary to effect the action state another date as
the effective date of the action, in which case the stated date is the effective date
of the action.
(3) Any member who has signed a record describing and consenting to action
taken pursuant to this section may revoke the consent by a record signed and dated
by the member describing the action and stating that the member's prior consent
thereto is revoked, if the record is received by the limited cooperative association
prior to the effectiveness of the action.
(4) If not otherwise fixed under subsection (7) of this section, the record date
for determining members entitled to take action pursuant to this section or entitled
to be given notice under subsection (6) of this section of action taken pursuant to
this section is the date the limited cooperative association first receives a writing
upon which the action is taken pursuant to this section.
(5) Action taken under this section has the same effect as action taken at a
members meeting and may be described as such.
(6) (a) If action is to be taken under subsection (1) of this section, the limited
cooperative association shall give notice of the proposed action to the members
entitled to vote thereon. The notice must:
(I) Be given in a record;
(II) Describe the proposed action; and
(III) Specify the date on or before which consents to be given pursuant to
subsection (1) of this section must be received by the association.
(b) (I) Notwithstanding paragraph (a) of this subsection (6), whenever notice
is required to be given under this subsection (6) to any member, the notice is not
required to be given to a member if:
(A) Notice of two consecutive annual meetings, and all notices of meetings
during the period between the two consecutive annual meetings, have been sent to
the member at the member's address as shown on the records of the limited
cooperative association and have been returned undeliverable; or
(B) All, but not less than two, payments of distributions during a twelve-month period, or two consecutive payments of distributions during a period of more
than twelve months, have been sent to the member at the member's address as
shown on the records of the association and have been returned undeliverable.
(II) If any such member delivers to the association a notice in a record setting
forth the member's then-current address, the requirement that notice be given to
the member is reinstated.
(7) The proper court may, upon application of the association or any member
who would be entitled to vote on the action at a members meeting, summarily state
a record date for determining members entitled to sign records consenting to an
action under this section and may enter other orders necessary or appropriate to
effect the purposes of this section.