35-19-306. Initiative by members -- approval of trustees not required.
35-19-306. Initiative by members -- approval of trustees not required. (1) Notwithstanding any other provision of this chapter, there must be submitted to the members of a buying cooperative any proposition embodied in a petition signed by not less than 20% of its members, together with any document submitted with the petition to give the effect to the proposition, either at a special meeting of the members held within 45 days after the presentation of the petition or, if the date of the next annual meeting of members falls within 90 days after the presentation or if the petition specifically requests, at the annual meeting.
(2) The approval of the board of trustees is not required for any proposition or document submitted to the members pursuant to this section and approved by them, but any proposition or document is subject to all other applicable provisions of this chapter. The affidavit or affidavits required to be filed with this proposition or document pursuant to applicable provisions of this chapter must be modified to be in compliance with the provisions of this section.
History: En. Sec. 17, Ch. 575, L. 1999.