Iowa Code 501.302 – Calling and notice of meetings
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1. A cooperative shall hold an annual member meeting at a time and place fixed in accordance with the bylaws.
Terms Used In Iowa Code 501.302
- Board: means the cooperative's board of directors. See Iowa Code 501.101
- Cooperative: means a cooperative association organized under this chapter or converted to this chapter pursuant to section 501. See Iowa Code 501.101
- Member: means a person who owns a voting interest in a cooperative. See Iowa Code 501.101
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
2. The board may call special member meetings, and the board shall call a special member meeting upon the written demand of twenty percent of the members.
3. A cooperative shall give each member at least ten days’ advance notice of the time, place, and the issues to be considered at each member meeting. This notice may be given in person or by mail to the last known address of the member, or the notice requirement may be met by the member waiving the notice.
4. The record date for determining the members entitled to notice of and to vote at a member meeting is the close of business on the day before the first notices for the meeting are delivered or mailed.