Chapter 7-6.2. Workers’ Cooperatives
Section
7-6.2-1Legislative purpose.7-6.2-2Definitions.7-6.2-3Corporations organized under general corporation law; election to be governed as workers’ cooperative.7-6.2-4Application of general corporation law — Business corporation tax — Other taxes and programs.7-6.2-5Revocation of election.7-6.2-6Members — Membership shares — Fees — Rights and responsibilities.7-6.2-7Voting shares — Bylaws — Amendment of certificate of incorporation.7-6.2-8Net earnings or losses — Apportionment, distribution, and payment.7-6.2-9Directors; officers.7-6.2-10Internal capital accounts — Recall or redemption of shares — Interest — Collective reserve account.7-6.2-11Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger.7-6.2-12Severability.