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Arizona Arizona Revised Statutes

§ 10-2009 — Membership certificates; voting; liability

ARS § 10-2009Title 10. Corporations and Associations · Ch. 19. NOT FOR PROFIT CORPORATIONS AND ASSOCIATIONS, COOPERATIVES AND FRATERNAL AND BENEVOLENT SOCIETIES · Art. 1. Cooperative Marketing Associations

Statute text

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10-2009. Membership certificates; voting; liability If a member of an association established without capital stock has paid his membership fee, he may receive a certificate of membership. Members are not liable for debts of the association above the sum remaining unpaid on their membership fees. No member is entitled to more than one vote unless the bylaws provide otherwise. In no event is a member allowed to have more than five votes which are based on actual patronage, and a member is not allowed more than one vote because of the amount of membership capital he may own.

Source: Arizona Arizona Revised Statutes § 10-2009 from the Arizona Revised Statutes (Arizona State Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.