1.

 Annual meeting.

 Regular members’ meetings shall be held annually at a time determined by the board, unless otherwise provided for in the bylaws.

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Terms Used In Iowa Code 501A.803

  • Address: means mailing address, including a zip code. See Iowa Code 501A.102
  • Board: means the board of directors of a cooperative. See Iowa Code 501A.102
  • Cooperative: means a business association organized under this chapter. See Iowa Code 501A.102
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Member: means a person or entity reflected on the books of a cooperative as the owner of governance rights of a membership interest of the cooperative and includes patron and nonpatron members. See Iowa Code 501A.102
  • year: means twelve consecutive months. See Iowa Code 4.1
 2.

 Location.

 The regular members’ meeting shall be held at the principal place of business of the cooperative or at another conveniently located place as determined by the bylaws or the board.

 3.

 Business and fiscal reports.

 The officers shall submit reports to the members at the regular members’ meeting covering the business of the cooperative for the previous fiscal year that show the condition of the cooperative at the close of the fiscal year.

 4.

 Election of directors.

 All directors shall be elected at the regular members’ meeting for the terms of office prescribed in the bylaws, except for directors elected at district or unit meetings.

 5.

 Notice.
 a. The cooperative shall give notice of regular members’ meetings by mailing the regular members’ meeting notice to each member at the members’ last known post office address or by other notification approved by the board and agreed to by the members. The regular members’ meeting notice shall be published or otherwise given by approved method at least two weeks before the date of the meeting or mailed at least fifteen days before the date of the meeting.
 b. The notice shall contain a summary of any bylaw amendments adopted by the board since the last annual meeting.
 6.

 Waiver and objections.

 A member may waive notice of a meeting of members. A waiver of notice by a member entitled to notice is effective whether given before, at, or after the meeting, and whether given in writing, orally, or by attendance. Attendance by a member at a meeting is a waiver of notice of that meeting, except where the member objects at the beginning of the meeting to the transaction of business because the meeting is not lawfully called or convened, or objects before a vote on an item of business because the item cannot lawfully be considered at that meeting and does not participate in the consideration of the item at that meeting.

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