16-16-807. Removal of director.

189 words·~1 min read·/ut/title-16/chapter-16/16-16-807

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

Unless the organic rules otherwise provide, the following rules apply:

(1)Members may remove a director with or without cause.

(2)A member or members holding at least 10% of the total voting power entitled to be voted in the election of a director may demand removal of the director by one or more signed petitions submitted to the officer of the limited cooperative association charged with keeping its records.

(3)Upon receipt of a petition for removal of a director, an officer of the association or the board of directors shall:

(a)call a special meeting of members to be held not later than 90 days after receipt of the petition by the association; and

(b)mail or otherwise transmit or deliver in a record to the members entitled to vote on the removal, and to the director to be removed, notice of the meeting which complies with Section 16-16-508 .

(4)A director is removed if the votes in favor of removal are equal to or greater than the votes required to elect the director.

Enacted by Chapter 363 , 2008 General Session