§ 501A.705 — Removal of directors

Iowa § 501A.705

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

Text

1. Modification. The provisions of this section apply unless modified by the articles or
the bylaws.
2. Removal of directors. A director may be removed at any time, with or without cause,
if all of the following apply:
a. The director was named by the board to fill a vacancy.
b. The members have not elected directors in the interval between the time of the
appointment to fill a vacancy and the time of the removal.
c. A majority of the remaining directors present affirmatively vote to remove the director.
3. Removalbymembers. Anyoneorallofthedirectorsmayberemovedatanytime,with
or without cause, by the affirmative vote of the holders of a majority of the voting power of
membershipinterestsentitledtovoteatanelectionofdirectors, providedthatifadirectorhas
been elected solely by the patron members or the holders of a class or series of membership
interests as stated in the articles or bylaws, then that director may be removed only by the
affirmative vote of the holders of a majority of the voting power of the patron members for a
director elected by the patron members or of all membership interests of that class or series
entitled to vote at an election of that director.
4. Electionofreplacements. Newdirectorsmaybeelectedatameetingatwhichdirectors
are removed.