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Governance rights

Governance rights are the voting and control part of a membership interest; chapter 308B names them in the definition of membership interest but does not define them separately.

Verified against sources: October 15, 2026Last edited: October 15, 2026

The definition of membership interest includes a member's governance rights and the right to assign governance rights § 308B.005, subd. 16 P1. The definition of member refers to a person on the books as the owner of governance rights of a membership interest § 308B.005, subd. 15 P1. An assignee of financial rights does not obtain governance rights by that assignment § 308B.605, subd. 2 P1. See Member voting rules in Chapter 308B.

Statute sections referenced

Sources

  • P1 Minnesota Statutes, Chapter 308B (Cooperative Associations), Office of the Revisor of Statutes, State of Minnesota. revisor.mn.gov (primary; accessed October 15, 2026)

glossary

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