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Questions and Answers
What is the minimum number of voting members required to constitute a quorum in a cooperative?
What is the minimum number of voting members required to constitute a quorum in a cooperative?
What can the general assembly delegate without prior approval?
What can the general assembly delegate without prior approval?
How often must a cooperative's board of directors meet?
How often must a cooperative's board of directors meet?
What is one of the powers of the general assembly in a cooperative?
What is one of the powers of the general assembly in a cooperative?
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Who can be elected as a director in a cooperative?
Who can be elected as a director in a cooperative?
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What is the role of external experts brought into the cooperative?
What is the role of external experts brought into the cooperative?
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When must regular meetings of the general assembly occur?
When must regular meetings of the general assembly occur?
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Which of the following statements about voting in a cooperative is true?
Which of the following statements about voting in a cooperative is true?
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The general assembly of a cooperative consists of all the members who have the right to ______.
The general assembly of a cooperative consists of all the members who have the right to ______.
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The general assembly has the most ______ in a cooperative.
The general assembly has the most ______ in a cooperative.
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Regular meetings of the general assembly happen once a year, within ______ days after the fiscal year ends.
Regular meetings of the general assembly happen once a year, within ______ days after the fiscal year ends.
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A quorum is defined as 25% of all ______ members.
A quorum is defined as 25% of all ______ members.
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In a primary cooperative, each member gets ______ vote.
In a primary cooperative, each member gets ______ vote.
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The board of directors should have between 5 and ______ members.
The board of directors should have between 5 and ______ members.
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Directors are elected for a term of ______ years.
Directors are elected for a term of ______ years.
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The board must meet at least once a ______.
The board must meet at least once a ______.
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External experts brought into the cooperative cannot have ______ rights.
External experts brought into the cooperative cannot have ______ rights.
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Some members in larger cooperatives may have more than one ______ based on the cooperative's rules.
Some members in larger cooperatives may have more than one ______ based on the cooperative's rules.
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Study Notes
General Assembly
- Composed of all members with voting rights based on cooperative rules
- Holds the highest authority in a cooperative
- Approves changes to important documents like articles of cooperation and bylaws
- Elects and removes board of directors
- Approves cooperative development plans
- Can delegate some powers to smaller groups with 75% voting member approval
General Assembly Meetings
- Regular meetings occur annually within 90 days after fiscal year ends with proper notice to members
- Special meetings can be called by the board or by member request
- Government authority can order a meeting if the board fails to do so
- Newly registered cooperatives must hold a special meeting within 90 days
- Members can waive the notice of a meeting
Quorum Requirements
- 25% of voting members required for a quorum in most cooperatives
- Cooperative banks have a different quorum rule
- Electric cooperatives need 5% of voting members for a quorum
Voting System
- Primary cooperatives have one vote per member
- Larger cooperatives may give some members multiple votes based on cooperative rules
- Voting by proxy is allowed in some cooperatives except for primary cooperatives
Board of Directors
- Between 5 and 15 members handle cooperative management
- Elected for two-year terms
- Responsible for setting policies, strategic planning, and guiding the cooperative's direction
Director Qualifications
- Must be cooperative members who fulfill the set qualifications
- External experts can provide technical advice but lack voting rights
- Directors cannot be involved in day-to-day operations
- Individuals with similar businesses or conflicts of interest are ineligible
Board Meetings
- Required to meet at least once a month
General Assembly
- The General Assembly is the main decision-making body in a cooperative.
- All members who have voting rights, as defined by the cooperative's rules, participate.
- Key powers include approving changes to the cooperative's articles of cooperation and bylaws, electing or removing board members, and approving development plans.
- The General Assembly can delegate powers to a smaller group, but this requires a 75% approval from voting members.
- Regular meetings take place annually within 90 days after the fiscal year ends, with proper notice given to members.
- Special meetings can occur when needed by the board, or if requested by a sufficient number of members.
- For newly registered cooperatives, a special meeting must happen within the first 90 days of registration.
- Members have the option to waive notice requirements for meetings.
- A quorum is required for decisions, which is at least 25% of all voting members. However, different rules apply to cooperative banks, and electric cooperatives require only 5%.
- Voting is generally one member, one vote in primary cooperatives, but larger cooperatives may assign multiple votes based on their rules.
- Voting by proxy is allowed in certain cooperatives, but not in primary cooperatives.
Board of Directors
- The board manages the cooperative.
- It comprises 5 to 15 members elected for two-year terms.
- The board is responsible for developing policies, strategic planning, and guiding the cooperative's overall direction.
- Only members meeting the cooperative's qualifications can be directors.
- Non-member expert advisors can be brought in for technical advice, but they cannot vote.
- Directors are not involved in day-to-day operations.
- Individuals running similar businesses to the cooperative or with conflict of interest are excluded from becoming directors.
- The board must hold at least one meeting each month.
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Description
Test your understanding of the governance structure within cooperatives, focusing on the roles of the General Assembly and the voting process. This quiz covers quorum requirements and meeting protocols, essential for managing cooperative organizations effectively.
