Wisconsin § 193.501 - Members.

§ 193.501. Members.

193.501(1) (1) Requirement. A cooperative shall have at least one patron member, except that if any patron member is a natural person, a cooperative shall have at least 5 patron members who are natural persons and who are adults. A cooperative may have nonpatron members if the patron members by majority vote approve an article, bylaw provision, or amendment provision authorizing nonpatron members. 193.501(2) (2) Grouping of members. 193.501(2)(a) (a) A cooperative may group members in districts or units, or on another basis, to the extent authorized in the articles or bylaws. The articles or bylaws may authorize the board to determine the grouping of members. 193.501(2)(b) (b) The board may take all steps necessary to implement the use of groupings established under par. (a) , including setting the time and place and prescribing the rules of conduct for holding meetings by group to elect delegates to members’ meetings. 193.501(3) (3) Member violations. 193.501(3)(a) (a) A member who knowingly, intentionally, or repeatedly violates a provision of the articles or bylaws, or a member control agreement or marketing contract with the cooperative, may be required by the board to surrender the member’s membership interest in the cooperative or any of the following portions of the member’s membership interest: 193.501(3)(a)1. 1. Governance rights and right to assign governance rights. 193.501(3)(a)2. 2. Financial rights and right to assign financial rights. 193.501(3)(b) (b) 193.501(3)(b)1. 1. Except as provided in subd. 2. , if the board requires a member to surrender the member’s membership interest or the rights described in par. (a) 2. , the cooperative shall refund to the member the lesser of the book value or market value of the membership interest or rights, as applicable, payable in not more than 7 years from the date of surrender. 193.501(3)(b)2. 2. If the board requires a patron member to surrender the patron member’s rights described in par. (a) 2. , the board may transfer all of those rights to a class of financial rights held by members who are not patron members, or to a certificate of interest that carries liquidation rights on par with membership interests and that must be redeemed within 7 years after the transfer as provided in the certificate. 193.501(3)(c) (c) The board may reissue or retire and cancel any membership interests required to be surrendered under par. (a) . 193.501(4) (4) Inspection of cooperative records by member. 193.501(4)(a) (a) Except as otherwise provided in this paragraph and pars. (d) and (e) , a member may inspect and copy any of the records described in s.