Section 193.715. Contribution rights agreements.

 

(1)   Contribution rights agreements permitted. Pursuant to s. 193.701 (1) and subject to any restrictions in the articles or bylaws, a cooperative may enter into an agreement that provides a person rights to contribute goods, services, or money to the cooperative.

(2)   Writing required; terms included by reference. A contribution rights agreement shall be in writing. Terms of the agreement may be included by reference.

(3)   Restrictions on assignment. Unless the articles or bylaws provide otherwise, a person may not assign, in whole or in part, that person's rights under a contribution rights agreement to a person who is not a member at the time of the assignment, unless all the members consent to the assignment in writing.

2005 a. 441 .