Iowa Code 501.306 – Number of votes
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Terms Used In Iowa Code 501.306
- Cooperative: means a cooperative association organized under this chapter or converted to this chapter pursuant to section 501. See Iowa Code 501.101
- Member: means a person who owns a voting interest in a cooperative. See Iowa Code 501.101
- Membership: means the interest established by a member owning a voting interest. See Iowa Code 501.101
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
A person who is a member shall not own more than one membership. The person shall be entitled to cast not more than one vote regarding any matter in which a vote is conducted, including any matter subject to a vote during a cooperative meeting.