How does ownership work in a cooperative?

Member-owners of a cooperative contribute to and democratically control equity capital, and receive a share of the profits based on their patronage, or use of the co-op's services. Ownership of any enterprise generally yields the right to a certain degree of control of that enterprise.

How does ownership work in a cooperative?

Member-owners of a cooperative contribute to and democratically control equity capital, and receive a share of the profits based on their patronage, or use of the co-op's services. Ownership of any enterprise generally yields the right to a certain degree of control of that enterprise.

Miami-Dade Florida Occupancy Agreement Between Cooperative Housing Corporation and Member/Shareholder - Cooperative Corporation Statement

Once the leadership has determined the statute to use as the legal authority for a cooperative, the first document prepared is the articles of incorporation (articles). It is the acceptance of the articles by the State that establishes the cooperative as a unique ?person? under the law.

While condo units are individually owned, co-ops are jointly owned by all residents, which means that all co-op owners have an ownership in the entire building - not just the unit they're living in. A contract or lease allows the owners to occupy one unit, but they don't own it fully.

Member-owners of a cooperative contribute to and democratically control equity capital, and receive a share of the profits based on their patronage, or use of the co-op's services. Ownership of any enterprise generally yields the right to a certain degree of control of that enterprise.

Your co-op's most important document (aka your co-op Bible) is its bylaws (known as ?rules of association? by the BC crowd).

Cooperative Principles Member Economic Participation. Members contribute equally to, and democratically control, the capital of the cooperative.Autonomy and Independence.Education, Training and Information.Cooperation among Cooperatives.Concern for Community.

Cooperatives are businesses owned by ?member-owners?. Co-ops are democratically controlled by their member-owners, and unlike a traditional business each member gets a voice in how the business is run. Services or goods provided by the co-op benefit and serve the member owners.

The only liability shareholders have in a corporation is the amount of their contribution to the company. A cooperative corporation (or simply, a ?cooperative?) is a special form of corporation that places ownership and/or control of the corporation in the hands of the employees or patrons of the corporation.

Co-operatives are established primarily to provide goods and services to their members. Shareholders are called members. Members jointly own the Cooperative.

According to the Commission, cooperatives have several defining characteristics: 1) they are open and voluntary associations; 2) they have a democratic structure, with each member having one vote; and 3) they have an equitable and fair distribution of economic results based on the volume of operations made through them