Tennessee Code 65-25-109 – Election of directors by member cooperatives
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Terms Used In Tennessee Code 65-25-109
- cooperatives: means one (1) or more nonprofit cooperative membership corporations heretofore or hereafter organized under or otherwise subject to this chapter, including corporations transacting business in this state pursuant to §. See Tennessee Code 65-25-102
- Member: means a person having the right to vote for the directors of a cooperative and upon other matters as provided in this chapter, a cooperative's articles of incorporation or bylaws, and includes each incorporator of a cooperative thereof, and also a husband and wife admitted to joint membership. See Tennessee Code 65-25-102
The bylaws of a cooperative whose membership consists wholly of one (1) or more other cooperatives shall provide for the manner of nominating and electing its directors, and the bylaws may provide that directors shall be elected from among the members, directors, officers or executive or administrative employees of member cooperatives and/or that its directors shall be either nominated or elected or appointed solely by such member cooperatives’ boards.