COMPILED CODE - Iowa Legislature - State of Iowa

353
Tit. XVII, Ch. 3-A. COOPERATIVE ASSOCIATIONS. §§ 5408-a8-5408-al0.
SEC. 5408-a8. Amendments.
1 Within thirty days after the adoption of any amendment to its
2 articles of incorporation, the association shall cause a copy of such
3 amendment to be recorded in the office of the secretary of state.
[39 G. A., ch. 122, § 8.]
SEC. 6408-a9. Admission of members—central cooperative associations—membership
certificates.
1 Under the terms and conditions prescribed in its by-laws, an
2 association may admit as members persons engaged in the production
3 of the products, or in the use or consumption of the supplies, to be
4 handled by or through the association, including the lessors and land-
5 lords of lands used for the production of such products, who receive as
6 rent part of the crop raised on the leased premises.
7 Likewise, associations may be formed under this chapter whose
8 membership shall consist of other associations formed under the pro-
9 visions of this chapter, the purpose being to federate local associations
10 into central cooperative associations for the more economical and
11 efficient performance of their marketing or other operations.
12 Such central associations may enter into contracts, agreements,
13 and arrangements with their member associations. Each member asso-
14 ciation in such federated associations shall have an official represéntalo
ti ve chosen by its own board of directors, who shall cast one vote and
16 no more at all business meetings of the federated association.
17 Membership certificates in due form shall be issued to all charter
18 members and to such others as shall subsequently be admitted by the
19 association in accordance with its articles and by-laws. No such cer-
20 tificate shall be transferable by the member to any other person, but
21 shall be surrendered to the association in case of his voluntary with-
22 drawal. It shall become void upon his death, or may be revoked by the
23 directors upon proof duly made that he has ceased to be a producer of
24 products handled by or through the association, in the case of pro-
25 ducing or selling associations or has ceased to be the user of products
26 handled by or through the association in case of stores and supply asso-
27 ciations, or for failure to observe its by-laws or his contractual obliga-
28 tipns to it. These conditions of membership shall be printed upon the
29 face of every membership certificate.
[39 G. A., ch. 122, § 9.]
SEC. 5408-alO. Voting power of members—proxies—voting bymail.
1 Each member of an association shall be entitled to one vote and no
2 more upon all questions affecting the control and management of the
3 affairs of the association and in the selection of its board of directors.
4 No vote by proxy shall be permitted, but a written vote received
5 by mail from any absent member, and signed by him, may be read and
6 counted at any regular or special meeting of the association, provided,
7 that the secretary shall notify all members in writing of the exact mo-
8 tion or resolution upon which such vote is to be taken, and a copy of
9 same shall be forwarded with and attached to the vote so mailed by the
10 member.
[39 G. A., ch. 122, § 10.]
23