§4A–12A–13.    NOT IN EFFECT

    ** TAKES EFFECT OCTOBER 1, 2026 PER CHAPTERS 198 AND 199 OF 2025 **

    (a)    The assembly shall meet annually at a time:

        (1)    Provided in the articles of organization or cooperative agreement; or

        (2)    Set by the board of representatives that is consistent with the articles of organization or cooperative agreement.

    (b)    Except as otherwise provided in the cooperative agreement, members may attend or conduct the annual assembly meeting through any means of communication if all members attending the meeting are able to communicate with each other during the meeting.

    (c)    The board of representatives shall report, or cause to be reported, at the annual assembly meeting the association’s business and financial condition as of the close of the most recent fiscal year.

    (d)    Except as otherwise provided in the cooperative agreement, the board of representatives shall designate the presiding officer of the annual assembly meeting.

    (e)    Failure to hold an annual assembly meeting does not affect the validity of any action taken by the limited worker cooperative association.

    (f)    (1)    Subject to paragraph (2) of this subsection, a limited worker cooperative association shall notify each member of the time, date, and place of a meeting of the members at least 10 and not more than 60 days before the annual assembly meeting.

        (2)    If the notice is of a meeting of the members in one or more classes of members, the notice shall be given only to members in those classes.