Maine § 13 §1911 Members

Maine Statutes

§ 13 §1911 — Members

Maine·Title 13 CORPORATIONS·Part 2 CORPORATIONS WITHOUT CAPITAL·Ch. 85 COOPERATIVES

1.Producers of agricultural products. An association may admit as members only bona fide producers of agricultural products, including tenants and landlords receiving a share of the crop, and cooperative associations of such producers. The incorporators named in the articles are thereby made members of the association, and they shall pay for their membership or stock the same amount and in the same manner as may be required in the case of other members.

2.Limit of common stock. The articles may limit the amount of common stock which a member may own.

3.Vote; liability. Under the terms and conditions prescribed in the bylaws, a member loses the member's vote if the member ceases to belong to the class eligible to membership under this section, but the member remains subject to any liabil

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1.
Producers of agricultural products.
An association may admit as members only bona fide producers of agricultural products, including tenants and landlords receiving a share of the crop, and cooperative associations of such producers. The incorporators named in the articles are thereby made members of the association, and they shall pay for their membership or stock the same amount and in the same manner as may be required in the case of other members.
2.
Limit of common stock.
The articles may limit the amount of common stock which a member may own.
3.
Vote; liability.
Under the terms and conditions prescribed in the bylaws, a member loses the member's vote if the member ceases to belong to the class eligible to membership under this section, but the member remains subject to any liability incurred by the member while a member of the association.
4.
Personal liability.
No member shall be personally liable for any debt or liability of the association.
5.
One vote.
Unless the articles otherwise provide, no member shall have more than one vote.
6.
Member defined.
In agricultural associations organized under this subchapter the term "member" in associations without capital stock may, by the bylaws, include any agricultural producer, either corporate or individual, with whom the association shall do business, either directly or through a member cooperative association, amounting to at least $100 during any fiscal year, and may, by the bylaws, include employees.
7.
Requirements of statute met.
Whenever under this subchapter an association is permitted to take any action, provided such action is authorized by a vote of the members or the vote of a specified proportion of the voting power based on patronage, the requirements of the statute shall be deemed to have been met by an association which has established voting districts and provided for the election of delegates, if such action is authorized by a vote of the delegates representing such members or such voting power.