4. Voting stock limited. Unless otherwise provided in this subchapter or in the articles of incorporation of an employee cooperative, no other capital stock other than membership shares may have voting power. In the event that proposed amendments to the articles of incorporation would adversely affect any nonvoting class of shareholders, such action may not be taken without the vote of those shareholders, as provided in Title 13-A 13-C, sections 805 1003 and 806 1004.

Sec. 10. 13 MRSA §1979, as enacted by PL 1983, c. 136, is amended to read:

§1979. Amendment of bylaws

The bylaws of an employee cooperative may only be amended by members, except as provided in Title 13-A 13-C, section 602 207.

Sec. 11. 13 MRSA §1982, sub-§4, as enacted by PL 1983, c. 136, is amended to read:

4. Exceptions. Title 13-A 13-C, section 909, 1302 does not apply to an internal capital account cooperative.

Sec. 12. 13-B MRSA §202, sub-§1, ¶¶K and L, as enacted by PL 1977, c. 525, §13, are amended to read:

K. To enter into contracts of guaranty or suretyship, unless in doing so the corporation would be engaging in an activity prohibited to business corporations organized under Title 13-A, section 401 13-C;

L. To lend money, invest its funds from time to time, and take and hold any property, including, but not limited to, real property, as security for payment of funds so loaned or invested, unless in doing so the corporation would be engaging in a business prohibited to business corporations organized under Title 13-A, section 401 13-C;

Sec. 13. 13-B MRSA §301, sub-§1, ¶B, as amended by PL 1993, c. 316, §31, is further amended to read:

B. May not be the same as, or deceptively similar to, the name of any domestic business or nonprofit corporation existing under the laws of this State or any foreign corporation authorized to transact business or foreign nonprofit corporation authorized to carry on activities in this State, or a name the exclusive right to which is, at