Senate Bill 2758

AN ACT TO PROVIDE FOR THE INCORPORATION OF COOPERATIVE ASSOCIATIONS; TO PROVIDE THE POWERS AND DUTIES OF COOPERATIVES; TO PROVIDE THE REQUISITES FOR THE ARTICLES OF ASSOCIATION OF COOPERATIVES; TO PROVIDE FOR THE ADOPTIONS OF BYLAWS BY COOPERATIVES; TO SPECIFY THE MEMBERSHIP OF COOPERATIVES AND THE REQUISITES FOR VOTING BY MEMBERS; TO PROVIDE FOR THE ORGANIZATION OF MEETINGS AND THE NOTIFICATION OF MEMBERS OF MEETINGS; TO PROVIDE FOR THE AUTHORIZATION OF, CONTROL AND USE OF STOCK BY COOPERATIVES; TO PROVIDE FOR THE NUMBER, ELECTION AND REMOVAL OF DIRECTORS; TO PROVIDE FOR THE MEETINGS OF DIRECTORS; TO AUTHORIZE EXECUTIVE COMMITTEES; TO PROVIDE FOR THE OFFICERS OF COOPERATIVES; TO PROVIDE FOR THE COMPENSATION AND BENEFITS TO DIRECTORS, OFFICERS AND EMPLOYEES OF A COOPERATIVE; TO PROVIDE FOR THE LIABILITY OF DIRECTORS, MEMBERS, STOCKHOLDERS AND PATRONS OF COOPERATIVES; TO PROVIDE THE MANNER IN WHICH A COOPERATIVE MAY DISPOSE OF ASSETS; TO PROVIDE RULES THAT GOVERN CONTRACTS BY COOPERATIVES; TO AUTHORIZE CONTRACTS TO BE FILED WITH THE CHANCERY CLERK AND PROVIDE THE EFFECT OF SUCH FILING; TO PROVIDE THAT THE DIRECTORS SHALL DETERMINE AND DISTRIBUTE NET ASSETS AT LEAST ONCE ANNUALLY; TO PROVIDE FOR ANNUAL REPORTS; TO PROVIDE THE MANNER IN WHICH ARTICLES OF ASSOCIATION MAY BE AMENDED; TO PROVIDE THE MANNER IN WHICH COOPERATIVES MAY MERGE AND CONSOLIDATE; TO PROVIDE THE MANNER IN WHICH A CORPORATION MAY CONVERT ITSELF INTO A COOPERATIVE; TO PROVIDE THE MANNER IN WHICH A COOPERATIVE MAY VOLUNTARILY DISSOLVE ITSELF; TO PROVIDE THE MANNER IN WHICH A COOPERATIVE MAY BE INVOLUNTARILY DISSOLVED; TO PROVIDE FOR THE LIQUIDATION OF THE ASSETS AND BUSINESS OF A COOPERATIVE UNDER COURT SUPERVISION; TO PROVIDE FOR DERIVATIVE ACTIONS BY MEMBERS AND STOCKHOLDERS; TO LIMIT THE USE OF THE TERM "COOPERATIVE" TO ASSOCIATIONS ORGANIZED UNDER THIS ACT AND TO PROVIDE PENALTIES FOR IMPROPER USE OF SUCH TERM; AND FOR RELATED PURPOSES.

In the Senate

• John Horhn

  Sponsor

• Senate floor amendmentAdopted

  Adopted Feb 11

l9n doesn't hold this bill's text yet.

In the Senate Jan 17 – Feb 10

1. Jan 17Referred to the Senate committee on Judiciary, Division B
2. Feb 1Reported from committee in the Senate: title sufficient, do pass as a committee substitute
3. Feb 10Committee substitute adopted in the Senate
4. Passed the Senate

In the House of Representatives Feb 10 – Mar 1

1. Feb 10Motion in the Senate to reconsider entered
2. Feb 11Reconsidered in the Senate
3. Amended in the Senate
4. Passed the Senate as amended
5. Feb 15Sent to the House
6. Referred to the House committee on Judiciary B
7. Mar 1Died in committee in the House