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This entry was published on 2014-09-22
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ARTICLE 5-A
Worker Cooperative Corporations
Cooperative Corporations (CCO) CHAPTER 77
ARTICLE 5-A

WORKER COOPERATIVE CORPORATIONS
Section 80. Legislative findings.

81. Definitions.

82. Corporations organized under the business corporation law;

election to be governed as worker cooperative.

83. Status as profit-making corporation.

84. Applicability of the business corporation law.

85. Applicability of the cooperative corporations law.

86. Revocation of election.

87. Corporate name.

88. Members; membership shares; fees; rights and

responsibilities.

89. Voting shares; by-laws; amendment of certificate of

incorporation.

90. Net retained proceeds or losses; distribution and payment.

91. Directors; officers.

92. Internal capital accounts; recall or redemption of shares;

interest; collective reserve account.

93. Internal capital account cooperatives.

94. Conversion of membership shares and internal capital

accounts upon revocation of election; consolidation or

merger.