Section 450.3134 - Cooperative organized on member capital basis, member fee basis, or basis combining member capital and membership fee; powers(1) A cooperative which is organized on a member capital basis or on a basis combining member capital and membership fee may provide for any of the following, if such provision is set forth in the articles or bylaws: (a) A maximum member capital to be held by any 1 member.(b) Transfer of member capital pursuant to section 304(6).(c) Mandatory contribution or contributions of member capital as a condition or conditions of admission to or retention of membership, including but not limited to initial capital contributions, surcharges, and distributions of net savings pursuant to section 1135.(d) A dividend on membership capital, not to exceed 8% per year.(e) Special assessments on members.(2) A cooperative which is organized on a membership fee basis or on a basis combining member capital and membership fee may provide for either or both of the following as a condition or conditions of admission to or retention of membership in the cooperative, if such a provision is set forth in its articles or bylaws: (a) The charging of a nonredeemable initial or periodic membership fee or fees.(b) Nonredeemable special assessments on members.Add. 1984, Act 209, eff. 11/1/1985 .