394.120. Qualifications for membership--meetings--rules.
Qualifications for membership--meetings--rules.
394.120. 1. No person shall become a member of a cooperative unlesssuch person shall agree to use electric energy furnished by the cooperativewhen such electric energy shall be available through its facilities. Thebylaws of a cooperative may provide that any person, including anincorporator, shall cease to be a member thereof if he or she shall fail orrefuse to use electric energy made available by the cooperative or ifelectric energy shall not be made available to such person by thecooperative within a specified time after such person shall have become amember thereof. Membership in the cooperative shall not be transferable,except as provided in the bylaws. The bylaws may prescribe additionalqualifications and limitations in respect of membership.
2. An annual meeting of the members shall be held at such time asshall be provided in the bylaws.
3. Special meetings of the members may be called by the board ofdirectors, by any three directors, by not less than ten percent of themembers, or by the president.
4. Meetings of members shall be held at such place as may be providedin the bylaws. In the absence of any such provisions, all meetings shallbe held in the city or town in which the principal office of thecooperative is located.
5. Except as herein otherwise provided, written or printed noticestating the time and place of each meeting of members and, in the case of aspecial meeting, the purpose or purposes for which the meeting is called,shall be given to each member, either personally or by mail, not less thanten nor more than twenty-five days before the date of the meeting.
6. Two percent of the first two thousand members and one percent ofthe remaining members, present in person shall constitute a quorum for thetransaction of business at all meetings of the members, unless the bylawsprescribe the presence of a greater percentage of the members for a quorum.If less than a quorum is present at any meeting, a majority of thosepresent in person may adjourn the meeting from time to time without furthernotice.
7. Each member shall be entitled to one vote on each matter submittedto a vote at a meeting. Voting shall be in person, but, if the bylaws soprovide, may also be by proxy or by mail, or both. If the bylaws providefor voting by proxy or by mail, they shall also prescribe the conditionsunder which proxy or mail voting shall be exercised. In any event, noperson shall vote as proxy for more than two members at any meeting of themembers.
(RSMo 1939 § 5394, A.L. 1945 p. 694, A.L. 1971 H.B. 344, A.L. 1999 H.B. 915)