Articles of Incorporation

Section 1. Any person, firm, corporation, partnership, association, body politic or other entity may become a member of the Corporation by:

1. 1. paying the membership fee hereinafter specified;

1. 2. agreeing to purchase from the Corporation a good or service; and

1. 3. agreeing to comply with and be bound by the articles of incorporation of the Corporation and the bylaws and any amendments thereto and such rules and regulations as may from time to time be adopted by the board of directors.

Section 2. Each member shall pay all obligations which may from time to time become due and payable by such member to the Corporation as and when the same shall become due and payable.

Section 3. The bylaws of the Corporation may fix other terms and conditions upon which persons shall be admitted to and retain membership in the Corporation not inconsistent with these articles of incorporation or the Act under which it is organized.

Section 1. The Cooperative may not sell, lease or otherwise dispose of all or any substantial portion of its property unless such sale, lease or other disposition is authorized at a meeting of the members thereof by the affirmative vote of not less than two-thirds of all of the members of the Cooperative, and unless the notice of such proposed sale, lease of other disposition shall have been contained in the notice of the meeting.

Section 2. Notwithstanding Section 1 of Article VIII, or any other provision of these Articles, the Board of the Cooperative, without authorization by the members thereof, shall have full power and authority to authorize the execution and delivery of a mortgage or mortgages or a deed or deeds of trust upon, or the pledging or encumbering of, any or all of the property, assets, rights, privileges, licenses, franchises and permits of the Cooperative, whether acquired or to be acquired, and wherever situated, as well as the revenues and income therefrom, all upon such terms and conditions  as the  Board  shall determine, to secure any indebtedness of the Cooperative.

Section 3. Notwithstanding Section 1 of Article VIII, or any other provision of these Articles, the Board may upon the authorization of a majority of those members of the Cooperative present at a meeting of the members thereof, sell, lease or otherwise dispose of all or a substantial portion of its property to another Cooperative or foreign corporation doing business in this State pursuant to the Act under which the Corporation is incorporated.

Section 1. Except as provided in this Section 1 or Section 2 of this Article IX, one hundred fifty (150) members of the Corporation shall constitute a quorum for the transaction of business at all meetings of the members. Notwithstanding the foregoing, (1) five percent (5%) of the total number of all members of the Corporation shall constitute a quorum if amendments to these Articles are submitted to a vote of the members, and (2) one thousand two hundred (1,200) members of the Corporation shall constitute a quorum if the sale, lease, lease-sale, exchange, transfer or other disposition of all or substantially all of the Corporation’s property to another corporation doing business in this State pursuant to the act under which this Corporation is incorporated is submitted to a vote of the members.

Section 2. Two thirds (66 and 2/3 percent) of the total membership of the Corporation shall constitute a quorum at a meeting for the purpose of considering the (1) sale, lease, lease-sale, exchange, transfer or other disposition of all or substantially all of the Corporation’s property to a person, corporation or other entity not doing business in this State pursuant to the act under which this Corporation is incorporated, (2) alteration, amendment or repeal of section 1 of Article VIII of these Articles relating to the sale or disposition of all or substantially all of the Corporation’s property to a person, corporation or other entity not doing business in this State pursuant to the act under which this Corporation is incorporated, or (3) amendment, alteration or repeal of this section 2 of Article IX of these Articles.

Directors of the Corporation shall not be liable to the Corporation or its members for monetary damages for an act or omission in the director's capacity as a director except that this Article does not eliminate or limit the liability of a director for:

1. breach of a director's duty of loyalty to the Corporation or its shareholders or members;

2. an act of omission not in good faith or that involves intentional misconduct or a knowing violation of the law;

3. a transaction from which a director received an improper benefit, whether or not the benefit resulted from an action taken within the scope of the director's office;

4. an act or omission for which the liability of a director is expressly provided for by statute;

5. an act related to an unlawful stock repurchase or payment of a dividend.