A. A cooperative may have one or more classes of members. If the cooperative has more than one class of members, the designation of each class
and the qualifications and rights of the members of each class shall be set forth
in the bylaws of the cooperative.
B. Such cooperative shall issue to its members nontransferable certificates of membership. Members shall be entitled to vote in accordance with the articles of incorporation
or, if the articles of incorporation so provide, the bylaws. The liability of each member shall be limited to the unpaid portion of its membership
fee or subscription to capital stock and its contractual obligations to the cooperative. The equity of members of a nonstock cooperative shall be in proportion to the patronage
capital paid such cooperative.
C. No person shall become or remain a member unless it has complied with the terms
and conditions of membership contained in the bylaws of the cooperative.
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