§ 4A-12A-15
265 words·~1 min read·
/md/corporations-and-associations/4a-12a-15·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§4A–12A–15. NOT IN EFFECT
** TAKES EFFECT OCTOBER 1, 2026 PER CHAPTERS 198 AND 199 OF 2025 **
(a)The articles of organization or cooperative agreement may allocate voting power among members on the basis of one or more of the following:
(1)One member, one vote;
(2)If a member is a cooperative, the number of its members; or
(3)Subject to subsection
(b)of this section, use or patronage.
(b)If voting power is allocated on the basis of use or patronage and a worker member would be denied a vote because the worker member did not use the limited worker cooperative association or conduct patronage with it, the worker member shall be allocated a vote equal to at least the minimum voting power allocated to worker members who used the association or conducted patronage with it.
(c)The articles of organization or cooperative agreement may provide for the allocation of member voting power by class.
(d)Investor members are not entitled to vote unless the articles of organization or cooperative agreement provides otherwise.
(1)This subsection does not apply where this title or the articles of organization or cooperative agreement require a higher voting threshold than is required by paragraph
(2)of this subsection.
(2)Notwithstanding any provision of the articles of organization or cooperative agreement, all representatives shall be elected and all other decisions within the authority of the assembly shall be made by a majority vote of:
(i)The worker members of the association; and
(ii)The voting power of members entitled to vote on the election or decision.