Minn. Stat. § 308B.575: Vote Of Ownership Interests Held By Cooperative

§ 308B.575 Vote Of Ownership Interests Held By Cooperative

Statute text

Extracted from the Revisor of Statutes; first captured here October 15, 2026. Formatting and whitespace are normalized. Extraction can contain errors; the linked official text controls.

A cooperative that holds ownership interests of another business entity may, by direction of the cooperative's board, elect or appoint a person to represent the cooperative at a meeting of the business entity. The representative has authority to represent the cooperative and may cast the cooperative's vote at the business entity's meeting.

History: 2003 c 105 art 1 s 53

Notes & interpretation Not part of the law

Verified against sources: October 15, 2026Last edited: October 15, 2026

In plain language#

If your cooperative owns an interest in another business entity, the cooperative's board can elect or appoint someone to represent the cooperative at that entity's meetings. That person has authority to represent the cooperative and to cast its vote there.

How it works in practice#

Record the board's direction in the minutes and give the representative a short written authorization to present to the other entity. The statute requires only "direction of the cooperative's board"; the written authorization is a common-sense step, not a statutory requirement.
This section is about the cooperative voting in others. For others voting the cooperative's own membership interests, see § 308B.561.

Voting of interests held by entities, subsidiaries and fiduciaries: § 308B.561

Sources

P1 Minnesota Statutes, Chapter 308B (Cooperative Associations), Office of the Revisor of Statutes, State of Minnesota. revisor.mn.gov (primary; accessed October 15, 2026)

voting general-provisions