Text: S05476                            Text: S05478
Text: S05400 - S05499                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

Senate Amendment 5477

Amendment Text

PAG LIN
  1  1    Amend House File 2335, as amended, passed, and
  1  2 reprinted by the House, as follows:
  1  3    #1.  Page 8, by inserting after line 23 the
  1  4 following:
  1  5    "Sec. ___.  NEW SECTION.  10.8A  PROCEDURE FOR
  1  6 ACQUISITION – REFERENDUM.
  1  7    A farmers cooperative association shall not acquire
  1  8 agricultural land or acquire an interest in a farmers
  1  9 entity under this chapter, unless the board of
  1 10 directors of the farmers cooperative association
  1 11 adopts a resolution authorizing the acquisition.  The
  1 12 resolution shall not become effective for thirty days
  1 13 following the delivery of a notice of the adoption by
  1 14 the board of the resolution to the members of the
  1 15 farmers cooperative association.  The notice shall be
  1 16 delivered to each member in person or by mail directed
  1 17 to each member's address as shown on the books of the
  1 18 association.  If, within the thirty-day period, at
  1 19 least twenty percent of the members of the farmers
  1 20 cooperative association file a petition with the board
  1 21 of directors for a referendum under this section, the
  1 22 resolution shall not become effective unless the
  1 23 resolution is adopted by a majority vote of the
  1 24 members of the farmers cooperative association present
  1 25 or represented having voting privileges.  The
  1 26 referendum shall be conducted at an annual meeting or
  1 27 special meeting of the membership, provided that at
  1 28 least ten days' prior written notice of the impending
  1 29 referendum has been mailed to all members of the
  1 30 association with a copy or summary of the resolution."
  1 31    #2.  By renumbering as necessary.  
  1 32 
  1 33 
  1 34                               
  1 35 H. KAY HEDGE 
  1 36 JOHN P. KIBBIE 
  1 37 DERRYL McLAREN 
  1 38 EUGENE S. FRAISE 
  1 39 HF 2335.504 77
  1 40 da/jw/28

Text: S05476                            Text: S05478
Text: S05400 - S05499                   Text: S Index
Bills and Amendments: General Index     Bill History: General Index

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