Section 1.02. Joint Membership
A husband and wife, or any two persons whether or not married, may apply for a Joint Membership and, subject to their compliance with the requirements set forth in Section 1.01 of this Article, may be accepted for such Membership. The term “Member” as used in these Bylaws shall be deemed to include any such persons holding a Joint Membership and any provisions relating to the rights and liabilities of Membership shall apply equally with respect to the holders of a Joint Membership. In addition, the following provisions apply to Joint Memberships:
- The presence at a meeting of either or both shall be regarded as the presence of one Member and shall constitute a joint waiver of notice of the meeting;
- The vote of either separately or both jointly shall constitute one joint vote;
- A waiver of notice signed by either or both shall constitute a joint waiver;
- Notice to either shall constitute notice to both;
- Expulsion of either shall terminate the Joint Membership;
- Withdrawal of either shall terminate the Joint Membership;
- Either but not both concurrently may be elected or appointed an Officer or Director, provided that both meet the qualifications for such office;
- Divorce of spouses shall terminate Joint Membership; provided, however, that neither former spouse shall be released from any debts due the Cooperative.
- A Joint Membership shall also be terminated if either Joint Member provides written notice to the Cooperative asking that the Joint Membership be terminated; provided, however, that neither former Joint Member shall be released from any debts due the Cooperative.
- In the event that a Joint Membership is terminated by divorce or written notice to the Cooperative, capital credits earned during the Joint Membership shall be divided evenly between the Joint Members, unless (i) the Joint Members both instruct the Cooperative otherwise, in a writing signed by both Joint Members; or (ii) a court of competent jurisdiction instructs the Cooperative otherwise.