21-2935. Special members' meetings.

212 words·~1 min read·/ne/chapter-21/21-2935

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Special members' meetings shall be called:

(a)As provided in the articles of organization or bylaws;

(b)By a majority vote of the board of directors;

(c)By demand in a record signed by members holding at least twenty percent of the votes of any class or group entitled to be cast on the matter that is the purpose of the meeting; or

(d)By demand in a record signed by members holding at least twenty percent of all votes entitled to be cast on the matter that is the purpose of the meeting.

(2)Any voting member may withdraw its demand under this section before the receipt by the limited cooperative association of demands sufficient to require a special members' meeting.

(3)A special members' meeting may be held in or out of this state at the place stated in the articles of organization or bylaws or by the board of directors in accordance with the articles of organization or bylaws.

(4)Only affairs within the purpose or purposes stated pursuant to subsection

(2)of section 21-2965 may be conducted at a special members' meeting.

(5)Unless otherwise provided by the articles of organization or bylaws, the presiding officer of the meeting shall be designated by the board of directors.