{"data":{"id":"us-mn/minn.-stat.-308a.125","jurisdiction":"us-mn","citation":"Minn. Stat. § 308A.125","heading":"STOCK AND NONSTOCK ORGANIZATION.","body":"Subdivision 1. Stock and nonstock cooperatives have same authority.\nCooperatives organized on a capital stock basis may be organized and have the same powers and authority as cooperatives organized without capital stock on a membership basis.\nSubd. 2. Capital stock organization.\nA cooperative is organized on a capital stock basis if holding shares of common stock entitles the holder of the stock to vote.\nSubd. 3. Nonstock organization.\n(a) The articles of a nonstock cooperative must contain the provisions required in the articles of a cooperative organized on a capital stock basis if the provisions are applicable to a cooperative organized upon a membership basis.\n(b) Except for cooperatives constituted partially or entirely of other cooperatives, a member of a cooperative organized on a membership basis may not have more than one vote, and a membership is transferable only with the consent and approval of the board.","path":["BUSINESS, SOCIAL, AND CHARITABLE ORGANIZATIONS","CHAPTER 308A. COOPERATIVE LAW","ORGANIZATION"],"source_url":"https://www.revisor.mn.gov/statutes/cite/308A.125","current_through":"2025 Minnesota Statutes","vintage":"","retrieved_at":"2026-09-02T22:10:41Z","sha256":"ed18b32435e32c466e589a67c9173a4daac0ae35dfcc76bb78d56e02248cd428","source_id":"us-mn","stale":false,"prev":"us-mn/minn.-stat.-308a.121","next":"us-mn/minn.-stat.-308a.131"},"notice":"GroundRules: Original legal text. Not legal advice."}