(1) If a limited cooperative association has both patron and investor members, the following rules apply: (a) The total voting power of all patron members must not be less than a majority of the entire voting power entitled to vote.(b) Action on any matter is approved only upon the affirmative vote of at least a majority of: (I) All members voting at the meeting unless more than a majority is required or permitted by parts 4, 12, 15, and 16 of this article or the articles or bylaws; and(II) Votes cast by patron members unless the articles or bylaws require a larger affirmative vote by patron members.(c) The articles or bylaws may provide for the percentage of the affirmative votes that must be cast by investor members to approve the matter.L. 2011: Entire article added, (SB 11 -191), ch. 197, p. 784, § 1, effective 4/2/2012.
Colorado Legal Code