Stockholders to vote on proposed by-law changes

MKC’s board of directors will ask for stockholder’s approval to adopt four changes to the Cooperative’s Articles of Incorporation and By-laws at the annual meeting scheduled for Thursday, July 19, at the Bicentennial Center in Salina.

If approved, the proposed changes would allow members the option to vote by means of electronic and mail ballots; provide for the nomination of directors via petition (in addition to the normal nominating committee process) and vote for directors by mail or electronic ballot; allow the coop the option to utilize and/or to pass through to patrons the federal income tax benefits of Section 199; and establish the distribution of net assets (in the unlikely event of liquidation or dissolution) based upon total allocated stock and equity then outstanding.