Topic: statutory-definition

• Address glossary

  Chapter 308B defines an address as a mailing address with zip code, and a registered address as an actual office location that may not be a post office box.

• Alternative ballot glossary

  An alternative ballot is a voting method prescribed in advance by the board, including electronic, telephonic, Internet or other means reasonably allowing members to vote.

• Articles glossary

  Articles are a cooperative's articles of organization as originally filed with the Secretary of State and as later amended.

• Association glossary

  Chapter 308B defines an association as an organization doing business on a cooperative plan under Minnesota or another state's laws and chartered under other laws of either state.

• Board glossary

  The board means the cooperative's board of directors, which under chapter 308B governs the cooperative.

• Business entity glossary

  A business entity is a company, LLC, LLP or other legal entity or association, domestic or foreign, as chapter 308B uses the term.

• Chapter glossary

  In chapter 308B, "chapter" means sections 308B.001 to 308B.975, the Minnesota Cooperative Associations chapter.

• Cooperative glossary

  Under chapter 308B a cooperative is an association organized under the chapter and conducting business on a cooperative plan as the chapter provides.

• Domestic business entity glossary

  A domestic business entity is a business entity organized under Minnesota law, as chapter 308B uses the term.

• Domestic cooperative glossary

  For chapter 308B's definitions, a domestic cooperative is one organized under Minnesota chapter 308B or chapter 308A.

• Filed with the secretary of state glossary

  A document is filed with the Secretary of State when it meets the chapter's requirements, is signed, comes with the filing fee, and is delivered; the Secretary of State then endorses and records it.

• Foreign business entity glossary

  A foreign business entity is any business entity that is not organized under Minnesota law, as chapter 308B uses the term.

• Foreign cooperative glossary

  A foreign cooperative is an out-of-state business entity organized to do business on a cooperative plan consistent with chapter 308B or 308A.

• Member glossary

  A member is a person or entity shown on the cooperative's books as owner of the governance rights of a membership interest, and includes both patron and nonpatron members.

• Members' meeting glossary

  A members' meeting is either a regular members' meeting or a special members' meeting.

• Membership interest glossary

  A membership interest is a member's stake in the cooperative, made up of financial rights and governance rights and the rights to assign each, and it includes both patron and nonpatron interests.

• Minnesota limited liability company glossary

  A Minnesota limited liability company is one governed by Minnesota Statutes chapter 322C.

• Nonpatron membership interest glossary

  A nonpatron membership interest is one whose holder does not have to do patronage business with the cooperative to receive financial rights or distributions.

• Patron glossary

  A patron is a person or entity that does patronage business with the cooperative; a patron need not be a member.

• Patron member glossary

  A patron member is a member who holds a patron membership interest, which requires patronage business with the cooperative.

• Patron membership interest glossary

  A patron membership interest is one whose holder must do patronage business with the cooperative, as the cooperative specifies, to receive financial rights or distributions.

• Patronage glossary

  Patronage means business, transactions or services done for or with the cooperative, as the cooperative itself defines them.

• Signed glossary

  A document is signed when a person's signature is on it, and for an SOS filing the signer must be authorized by the chapter, the articles or bylaws, or a resolution; electronic and facsimile signatures count.