In the absence of a date fixed in the cooperative by-laws, when shall the regular meeting of the General Assembly be held?

• A. Any date within 90 days after the close of each fiscal year
• B. Any day of April
• C. April 15
• D. Any day of December

Answer: (A)

When the cooperative by-laws do not fix a date for the regular meeting of the General Assembly, the governance rule is that this meeting must occur within 90 days after the close of the fiscal year. This default window ensures there is a defined and reasonable period to prepare and review the year’s financial statements, conduct elections, and address other annual reporting requirements without letting an indefinite amount of time pass.

Think of it this way: the year ends, books are closed, and audits are completed within a bit of time, so holding the annual meeting within 90 days after that deadline gives a practical, predictable schedule for governance activities. The other options—holding the meeting on any day in April, on a specific date like April 15, or on any day in December—require the by-laws to fix those dates; without such fixation, they aren’t the default rule.