As used in this chapter, unless the context otherwise requires:
 1. “Address” means mailing address, including a zip code. In the case of a registered address, the term means the mailing address and the actual office location, which shall not be a post office box.

Terms Used In Iowa Code 501A.102

  • Address: means mailing address, including a zip code. See Iowa Code 501A.102
  • Articles: means the articles of organization of a cooperative as originally filed or subsequently amended as provided in this chapter. See Iowa Code 501A.102
  • Association: means a business entity on a cooperative plan and organized under the laws of this state or another state or that is chartered to conduct business under the laws of another state. See Iowa Code 501A.102
  • Board: means the board of directors of a cooperative. See Iowa Code 501A.102
  • Business entity: means a person organized under statute or common law in this state or another jurisdiction for purposes of engaging in a commercial activity on a profit, cooperative, or not-for-profit basis, including but not limited to a corporation or entity taxed as a corporation under the Internal Revenue Code, nonprofit corporation, cooperative or cooperative association, partnership, limited partnership, limited liability company, limited liability partnership, investment company, joint stock company, joint stock association, or trust, including but not limited to a business trust. See Iowa Code 501A.102
  • Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
  • Cooperative: means a business association organized under this chapter. See Iowa Code 501A.102
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Domestic business entity: means a business entity organized under the laws of this state, including but not limited to a limited liability company as defined in section 489. See Iowa Code 501A.102
  • Foreign business entity: means a business entity that is not a domestic business entity. See Iowa Code 501A.102
  • Internet: means the federated international system that is composed of allied electronic communication networks linked by telecommunication channels, that uses standardized protocols, and that facilitates electronic communication services, including but not limited to use of the world wide web; the transmission of electronic mail or messages; the transfer of files and data or other electronic information; and the transmission of voice, image, and video. See Iowa Code 4.1
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Member: means a person or entity reflected on the books of a cooperative as the owner of governance rights of a membership interest of the cooperative and includes patron and nonpatron members. See Iowa Code 501A.102
  • Membership interest: includes patron membership interests and nonpatron membership interests. See Iowa Code 501A.102
  • Nonpatron membership interest: means a membership interest that does not require the holder to conduct patronage for or with the cooperative to receive financial rights or distributions. See Iowa Code 501A.102
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Patron: means a person or entity who conducts patronage with the cooperative, regardless of whether the person is a member. See Iowa Code 501A.102
  • Patron membership interest: means the membership interest requiring the holder to conduct patronage for or with the cooperative, as specified by the cooperative to receive financial rights or distributions. See Iowa Code 501A.102
  • Patronage: means business, transactions, or services done for or with the cooperative as defined by the cooperative. See Iowa Code 501A.102
  • 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
  • Secretary: means the secretary of state. See Iowa Code 501A.102
  • state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
  • Statute: A law passed by a legislature.
 2. “Alternative voting method” means a method of voting other than a written ballot, including voting by electronic, telephonic, internet, or other means that reasonably allows members the opportunity to vote.
 3. “Articles” means the articles of organization of a cooperative as originally filed or subsequently amended as provided in this chapter.
 4. “Association” means a business entity on a cooperative plan and organized under the laws of this state or another state or that is chartered to conduct business under the laws of another state.
 5. “Board” means the board of directors of a cooperative.
 6. “Business entity” means a person organized under statute or common law in this state or another jurisdiction for purposes of engaging in a commercial activity on a profit, cooperative, or not-for-profit basis, including but not limited to a corporation or entity taxed as a corporation under the Internal Revenue Code, nonprofit corporation, cooperative or cooperative association, partnership, limited partnership, limited liability company, limited liability partnership, investment company, joint stock company, joint stock association, or trust, including but not limited to a business trust.
 7. “Cooperative” means a business association organized under this chapter.
 8. “Crop” means a plant used for food, animal feed, fiber, or oil, if the plant is classified as a forage or cereal plant, including but not limited to alfalfa, barley, buckwheat, corn, flax, forage, millet, oats, popcorn, rye, sorghum, soybeans, sunflowers, wheat, and grasses used for forage or silage.
 9. “Domestic business entity” means a business entity organized under the laws of this state, including but not limited to a limited liability company as defined in section 489.102; a corporation organized pursuant to chapter 490; a nonprofit corporation organized under chapter 504; a partnership, limited partnership, limited liability partnership, or limited liability limited partnership as provided in chapter 486A or 488; or a cooperative association or other cooperative organized under this chapter or chapter 497, 498, 499, or 501.
 10. “Domestic cooperative” means a cooperative association or other cooperative organized under this chapter or chapter 497, 498, 499, 499A, or 501.
 11. “Foreign business entity” means a business entity that is not a domestic business entity.
 12. “Foreign cooperative” means a foreign business entity organized to conduct business consistent with this chapter or chapter 497, 498, or 499.
 13. “Iowa limited liability company” means a limited liability company governed by chapter 489.
 14. “Livestock” means the same as defined in section 717.1.
 15. “Member” means a person or entity reflected on the books of a cooperative as the owner of governance rights of a membership interest of the cooperative and includes patron and nonpatron members.
 16. “Member control agreement” means an instrument which controls the investment or governance of nonpatron members, which may be executed by the board and one or more nonpatron members and which may provide for their individual or collective rights to elect directors or to participate in the distribution or allocation of profits or losses.
 17. “Membership interest” means a member‘s interest in a cooperative consisting of a member’s financial rights, a member’s right to assign financial rights, a member’s governance rights, and a member’s right to assign governance rights. “Membership interest” includes patron membership interests and nonpatron membership interests.
 18. “Members’ meeting” means a regular or special members’ meeting.
 19. “Nonpatron member” means a member who holds a nonpatron membership interest.
 20. “Nonpatron membership interest” means a membership interest that does not require the holder to conduct patronage for or with the cooperative to receive financial rights or distributions.
 21. “Patron” means a person or entity who conducts patronage with the cooperative, regardless of whether the person is a member.
 22. “Patronage” means business, transactions, or services done for or with the cooperative as defined by the cooperative.
 23. “Patron member” means a member holding a patron membership interest.
 24. “Patron membership interest” means the membership interest requiring the holder to conduct patronage for or with the cooperative, as specified by the cooperative to receive financial rights or distributions.
 25. “Secretary” means the secretary of state.
 26. “Traditional cooperative” means a cooperative or cooperative association organized under chapter 497, 498, 499, 499A, or 501.
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