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Tennessee Code Title 43. Agriculture and Horticulture § 43-38-523

Current as of January 02, 2024 | Updated by Findlaw Staff

(a) A cooperative that is constituted entirely or partially of other cooperatives or associations may authorize by the articles or the bylaws for affiliated cooperative patron members to have an additional vote for:

(1) A stipulated amount of business transacted between the patron member cooperative and the central cooperative organization;

(2) A stipulated number of patron members in the member cooperative;

(3) A certain stipulated amount of equity allocated to or held by the patron member cooperative in the cooperative central organization; or

(4) A combination of methods in subdivisions (a)(1) through (a)(3).

(b) A cooperative that is organized into units or districts of patron members, may, by the articles or the bylaws, authorize the delegates elected by its patron members or have an additional vote for:

(1) A stipulated amount of business transacted between the patron members in the units or districts and the cooperative;

(2) A certain stipulated amount of equity allocated to or held by the patron members of the units or districts of the cooperative; or

(3) A combination of methods in subdivisions (b)(1) and (b)(2).

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Cite this article: FindLaw.com - Tennessee Code Title 43. Agriculture and Horticulture § 43-38-523 - last updated January 02, 2024 | https://codes.findlaw.com/tn/title-43-agriculture-and-horticulture/tn-code-sect-43-38-523/

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