Iowa Code 501A.708 – Action of board of directors
Current as of: 2023 | Check for updates
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1. Except as provided in subsection 2, the board shall only take action at a duly held meeting by the affirmative vote of any of the following:
a. A majority of directors present at the meeting.
b. A majority of the directors’ voting power present at the meeting.
Terms Used In Iowa Code 501A.708
- 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
- Board: means the board of directors of a cooperative. See Iowa Code 501A.102
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
2. The articles or bylaws may require the affirmative vote of a larger vote than provided in subsection 1. If the articles or bylaws require a larger vote than is required by this chapter for a particular action, the articles or bylaws control.