§ 501A.704 — Filling vacancies

Iowa § 501A.704

• Jurisdiction: Iowa
• Title XII: BUSINESS ENTITIES
• Ch. 501A: COOPERATIVE ASSOCIATIONS ACT

Text

1. Patron directors. If a patron member director’s position becomes vacant or a new
director position is created for a director that was or is to be elected by patron members,
the board, in consultation with the directors elected by patron members, shall appoint a
patronmemberofthecooperativetofillthedirector’spositionuntilthenextregularorspecial
members’ meeting. If there are no directors elected by patron members on the board at
the time of the vacancy, a special patron members’ meeting shall be called to fill the patron
member director vacancy.
2. Nonpatron directors. If the vacating director was not elected by the patron members
or a new director position is created, unless otherwise provided in the articles or bylaws, the
board shall appoint a director to fill the vacant position by majority vote of the remaining
or then serving directors even though less than a quorum. At the next regular or special
members’meeting, themembersorpatronmembersshallelectadirectortofilltheunexpired
term of the vacant director’s position.