The way mikesh describes it is accepted in Saskatchewan. Our requirements are:
-double lug meter socket (200 amp in this case)
-USEB or USEI must be protected by conduit where exposed (right into the panel)
-total of the main over-current protection must not exceed 200 amps
-both buildings have service entrance equipment and are grounded and bonded

What would be different than mikesh describes it, is that if there is a building where the meter is, nothing changes. We often put the meter on the building closest to the supply and feed the other from the meter. Here, everyone has a truck. If the box is empty, then the welder is back home in the garage.