(1) A limited cooperative association may amend its organic rules under this part
for any lawful purpose. In addition, the initial board of directors may amend the bylaws of an association
under Section 16-16-304.
(2) Unless the organic rules otherwise provide, a member does not have a vested property
right resulting from any provision in the organic rules, including a provision relating
to the management, control, capital structure, distribution, entitlement, purpose,
or duration of the limited cooperative association.
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