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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE XXII CORPORATIONS
  • CHAPTER 157A EMPLOYEE COOPERATIVE CORPORATIONS

Section 1 - Short title

Section 2 - Definitions

Section 3 - Corporations organized under chapter 156D; election to be governed as employee cooperative

Section 4 - Revocation of election

Section 5 - Corporate name

Section 6 - Members; membership shares; fees; rights and responsibilities

Section 7 - Voting shares; by-laws; amendment of articles of organization

Section 8 - Net earnings or losses; apportionment, distribution and payment

Section 9 - Internal capital accounts; recall or redemption of shares; interest; collective reserve account

Section 10 - Internal capital account cooperatives

Section 11 - Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger