Text: H08390 Text: H08392 Text: H08300 - H08399 Text: H Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Amend House File 2335 as follows:
1 2 #1. Page 8, by inserting after line 23 the
1 3 following:
1 4 "Sec. ___. NEW SECTION. 10.8A DISSENTING MEMBERS
1 5 AND SHAREHOLDERS.
1 6 If a farmers cooperative association is acquiring
1 7 agricultural land or acquiring an interest in a
1 8 farmers entity, the farmers cooperative association
1 9 shall notify its members and shareholders prior to the
1 10 acquisition. The notice shall be delivered to each
1 11 member and shareholder in person or by mail directed
1 12 to each member's or shareholder's address as shown on
1 13 the books of the association. A member or shareholder
1 14 of the farmers cooperative association may dissent, by
1 15 filing a demand within twenty days after the farmers
1 16 cooperative association delivers the notice. The
1 17 farmers cooperative association shall pay to the
1 18 member or shareholder, upon surrender of that person's
1 19 certificate of membership or shares of stock, the fair
1 20 value of that member's or shareholder's interest as
1 21 provided in section 499.66 as if a member were
1 22 dissenting to a merger or consolidation. A member or
1 23 shareholder who fails to make demand within the
1 24 twenty-day period is conclusively presumed to have
1 25 consented to the acquisition."
1 26
1 27
1 28
1 29 KOENIGS of Mitchell
1 30 HF 2335.307 77
1 31 da/cf/28
Text: H08390 Text: H08392 Text: H08300 - H08399 Text: H Index Bills and Amendments: General Index Bill History: General Index
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