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Cooperative Articles Of Incorporation
"I need to draft Cooperative Articles of Incorporation for a worker-owned manufacturing cooperative in Michigan, with an expected launch date of March 2025 and initial membership of 50 employee-owners who will each have equal voting rights and profit-sharing arrangements."
1. Article I - Name and Purpose: Legal name of the cooperative and its primary objectives
2. Article II - Principal Office: Address of the cooperative's main place of business
3. Article III - Duration: Period of existence (usually perpetual)
4. Article IV - Registered Agent: Details of the registered agent and registered office
5. Article V - Membership: Qualifications and conditions for membership
6. Article VI - Board of Directors: Structure and powers of the board
7. Article VII - Capital Structure: Details of shares, classes of stock if any
1. Article on Patronage Dividends: Details of profit distribution based on patronage - include when cooperative plans to distribute profits based on patronage
2. Article on Geographic Territory: Defined service area - include when cooperative operates in specific regions
3. Article on Foreign Operations: Rules for operating outside state/country - include when planning interstate or international operations
1. Initial Board of Directors: List of first board members and their addresses
2. Initial Membership List: List of founding members if applicable
3. Capital Structure Details: Detailed breakdown of share classes and rights
4. Incorporator Information: Details of individuals forming the cooperative
Authors
Board of Directors
Bylaws
Capital Credits
Cooperative
Director
Member
Membership Certificate
Patron
Patronage
Patronage Dividend
Principal Office
Quorum
Registered Agent
Registered Office
Share
Voting Rights
Capital Stock
Common Stock
Preferred Stock
Membership Interest
Fiscal Year
Member-Owner
Cooperative Association
Surplus
Net Margins
Dissolution
Distribution
Operating Agreement
Membership Agreement
Principal Place of Business
Duration
Registered Office and Agent
Membership Qualification
Membership Rights
Capital Structure
Share Classes
Voting Rights
Board Composition
Director Qualifications
Officer Appointments
Meeting Requirements
Quorum Requirements
Patronage Distribution
Amendment Powers
Dissolution Rights
Merger Authority
Indemnification
Limited Liability
Stock Transfer Restrictions
Membership Transfer
Territory of Operation
Corporate Powers
Asset Distribution
Member Withdrawal
Capital Contribution
Surplus Distribution
Record Keeping
Notice Requirements
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