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Tenn. Code Ann. § 43-38-523

Voting for cooperative constituted of other cooperatives or associations — Cooperative organized into units or districts of patron members

Known as the Tennessee Processing Cooperative Law

The act spans §§ 43-38-1001 to 43-38-904 (150 sections).

Acts 2004, ch. 534, § 22.

(1) A cooperative that is constituted entirely or partially of other cooperatives or associations may authorize by the articles or the bylaws for affiliated cooperative patron members to have an additional vote for: A stipulated amount of business transacted between the patron member cooperative and the central cooperative organization;

(2) A stipulated number of patron members in the member cooperative;

(3) A certain stipulated amount of equity allocated to or held by the patron member cooperative in the cooperative central organization; or

(4) A combination of methods in subdivisions (a)(1) through (a)(3).

(5) A cooperative that is organized into units or districts of patron members, may, by the articles or the bylaws, authorize the delegates elected by its patron members or have an additional vote for: A stipulated amount of business transacted between the patron members in the units or districts and the cooperative;

(6) A certain stipulated amount of equity allocated to or held by the patron members of the units or districts of the cooperative; or

(7) A combination of methods in subdivisions (b)(1) and (b)(2).

Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.