(1) The quorum for a members' meeting to transact business shall be: Ten percent (10%) of the total number of members for a cooperative with five hundred (500) or fewer members; or
(2) Fifty (50) members for cooperatives with more than five hundred (500) members.
(3) In determining a quorum at a meeting, on a question submitted to a vote by mail or an alternative method, members present in person or represented by mail vote or the alternative voting method shall be counted. The attendance of a sufficient number of members to constitute a quorum shall be established by a registration of the members of the cooperative present at the meeting. The registration shall be verified by the chair or the records officer of the cooperative and shall be reported in the minutes of the meeting.
(4) An action by a cooperative is not valid or legal in the absence of a quorum at the meeting at which the action was taken.