Limits the time a cooperative can hold its members' funds to 10 years.
Amends Michigan law to restrict agricultural cooperatives from holding their members' funds for more than 10 years. This change applies to associations that receive money from their members. The amendment aims to ensure that cooperatives manage their members' funds responsibly and within a reasonable timeframe.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.