Membership interest

A membership interest is a member's interest in a cooperative, made up of the member's financial rights, the right to assign financial rights, governance rights and the right to assign governance rights; it includes patron and nonpatron membership interests.

Statutory definition#

This is a term defined by statute. Section 308B.005, subdivision 16, defines it for purposes of chapter 308B ^{P1, subd. 16}. Our paraphrase is above; the statute's own words control and are in § 308B.005.

A membership interest is personal property, and a member has no interest in specific cooperative property § 308B.611. See Raise member equity and capital.