Minnesota § 308A.125 STOCK AND NONSTOCK ORGANIZATION

Minnesota Statutes

§ 308A.125 — STOCK AND NONSTOCK ORGANIZATION

Minnesota § 308A.125

PartBUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS

Ch. 308ACOOPERATIVE LAW

This text of Minnesota § 308A.125 (STOCK AND NONSTOCK ORGANIZATION) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 308A.125 (2026).

Text

Subdivision 1.Stock and nonstock cooperatives have same authority. Cooperatives organized on a capital stock basis may be organized and have the same powers and authority as cooperatives organized without capital stock on a membership basis. Subd. 2.Capital stock organization. A cooperative is organized on a capital stock basis if holding shares of common stock entitles the holder of the stock to vote. Subd. 3.Nonstock organization.

(a)The articles of a nonstock cooperative must contain the provisions required in the articles of a cooperative organized on a capital stock basis if the provisions are applicable to a cooperative organized upon a membership basis.

(b)Except for cooperatives constituted partially or entirely of other cooperatives, a member of a cooperative organized on a m

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Subdivision 1.Stock and nonstock cooperatives have same authority.
Cooperatives organized on a capital stock basis may be organized and have the same powers and authority as cooperatives organized without capital stock on a membership basis.

Subd. 2.Capital stock organization.
A cooperative is organized on a capital stock basis if holding shares of common stock entitles the holder of the stock to vote.

Subd. 3.Nonstock organization.
(a) The articles of a nonstock cooperative must contain the provisions required in the articles of a cooperative organized on a capital stock basis if the provisions are applicable to a cooperative organized upon a membership basis.
(b) Except for cooperatives constituted partially or entirely of other cooperatives, a member of a cooperative organized on a membership basis may not have more than one vote, and a membership is transferable only with the consent and approval of the board.