Guam § 17514 - Voting Requirements for Members.

§ 17514. Voting Requirements for Members.

If a limited cooperative association has both patron and investor members, the following rules apply:

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(a) the total voting power of all patron members may not be less than eighty percent (80%) of a

majority of the entire voting power entitled to vote.

(b) action on any matter is approved only upon the affirmative vote of at least a majority of:

(1) all members voting at the meeting unless more than a majority is required by Articles 4,

12, 14, or 16, or pursuant to the organic rules; and

(2) votes cast by patron members unless the articles of organization or bylaws require a

larger affirmative vote by patron members.

(c) The organic rules may provide for the percentage of the affirmative votes that must be cast by

investor members to approve the matter.