Minnesota SF2471 enhances transparency and member participation in electric cooperatives.

Minnesota SF2471 mandates that electric cooperatives with over 50,000 members must hold open board meetings, allowing remote participation. It requires cooperatives to provide members access to key documents and information, including articles of incorporation, bylaws, meeting minutes, annual reports, IRS Form 990, and financial statements. Members must be notified annually of their capital credit allocation. The bill also requires cooperatives to implement secure electronic voting systems for board elections, enabling mail and internet voting.

Minnesota SF2471 enhances transparency and member participation in electric cooperatives.

Minnesota SF2471 mandates that electric cooperatives with over 50,000 members must hold open board meetings, allowing remote participation. It requires cooperatives to provide members access to key documents and information, including articles of incorporation, bylaws, meeting minutes, annual reports, IRS Form 990, and financial statements. Members must be notified annually of their capital credit allocation. The bill also requires cooperatives to implement secure electronic voting systems for board elections, enabling mail and internet voting.