Article 2: Members and Shareholders
A part-time employee who works 25 hours a week and started working for the cooperative in June of 2023 is interested in joining the cooperative. Are they eligible for membership?
Yes
What are the four things that members are responsible for educating themselves on?
Governance, cooperative structure, business and operations.
When does the annual meeting happen each year?
On or about the 15th of April.
This employee can’t pay the $1000 membership share upfront. They sign a promissory note saying they will do a payroll deduction. When can they start voting in the cooperative?
As soon as they sign the promissory note.
A new member wants to see the company’s financial records going back a few years. Can they request to see those if they are not on the board?
Yes.
When can members meet?
At any time, so long as all members are given notice.
There are three employees eligible for membership starting in November of 2026. The current members think one of the three would make an excellent member. Can they invite one person to become a member but not the others?
No.
Are there any financial records they are not granted access to?
Employee personnel information.
Who can call a special meeting of the members? How do they do it?
The board president, or 20% of the members signing a petition.
An employee meets all of the eligibility requirements but has only been working at Coakley’s for 9 months. Does the employee have to wait until 12 months of employment to become a member? What would be the process for handling that?
The board can make exceptions on a case by case basis to recommend someone for early membership. The board would need to vote to approve their candidacy, and then bring it to the members for a vote.
A member is unhappy with how something is going in the cooperative. What rights do they have according to the bylaws to do something about it?
Speak up at a board meeting; propose an agenda item to the board; bring a resolution to the board; petition for a member meeting.
The board president calls a member meeting to vote to make a change to the bylaws. There are 30 members total, and 20 of them show up to this meeting. Can the members make this vote?
No. Quorum is 75%.
When someone leaves the cooperative or is terminated, when is their membership share paid back to them?
Immediately.