Kentucky Statutes 272A.5-150 – Districts and delegates — Classes of members
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(1) The organic rules may provide for the formation of geographic districts of patron members and:
(a) For the conduct of patron member meetings by districts and the election of directors at the meetings; or
(b) That districts may elect district delegates to represent and vote for the district at members meetings.
(2) A delegate elected under subsection (1)(b) of this section has one (1) vote unless voting power is otherwise allocated by the organic rules.
(3) The organic rules may provide for the establishment of classes of members, for the preferences, rights, and limitations of the classes, and:
(a) For the conduct of members meetings by classes and the election of directors at the meetings; or
(b) That classes may elect class delegates to represent and vote for the class in members meetings.
(4) A delegate elected under subsection (3)(b) of this section has one (1) vote unless voting power is otherwise allocated by the organic rules.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 44, effective July 12, 2012.
(a) For the conduct of patron member meetings by districts and the election of directors at the meetings; or
Terms Used In Kentucky Statutes 272A.5-150
- Directors: when applied to corporations, includes managers or trustees. See Kentucky Statutes 446.010
- Member: means a person that is admitted as a patron member or investor member, or both, in a limited cooperative association. See Kentucky Statutes 272A.1-020
- Voting power: means the total current power of members to vote on a particular matter for which a vote may or is to be taken. See Kentucky Statutes 272A.1-020
(b) That districts may elect district delegates to represent and vote for the district at members meetings.
(2) A delegate elected under subsection (1)(b) of this section has one (1) vote unless voting power is otherwise allocated by the organic rules.
(3) The organic rules may provide for the establishment of classes of members, for the preferences, rights, and limitations of the classes, and:
(a) For the conduct of members meetings by classes and the election of directors at the meetings; or
(b) That classes may elect class delegates to represent and vote for the class in members meetings.
(4) A delegate elected under subsection (3)(b) of this section has one (1) vote unless voting power is otherwise allocated by the organic rules.
Effective: July 12, 2012
History: Created 2012 Ky. Acts ch. 160, sec. 44, effective July 12, 2012.