Minnesota Statutes Business, Social, and Charitable Organizations (Ch. 300-323A) § 308A.125. Stock and nonstock organization

Subd. 3. Nonstock organization. (a) The articles of a nonstock cooperative must contain the provisions required in the articles of a cooperative organized on a capital stock basis if the provisions are applicable to a cooperative organized upon a membership basis.

(b) Except for cooperatives constituted partially or entirely of other cooperatives, a member of a cooperative organized on a membership basis may not have more than one vote, and a membership is transferable only with the consent and approval of the board.