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Worker Cooperative Corporations | Midpage
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New York Consolidated Laws
Cooperative Corporations
77
5-A
Worker Cooperative Corporations
80
Legislative findings
81
Definitions
82
Corporations organized under the business corporation law; election to be governed as worker cooperative
83
Status as profit-making corporation
84
Applicability of the business corporation law
85
Applicability of the cooperative corporations law
86
Revocation of election
87
Corporate name
88
Members; membership shares; fees; rights and responsibilities
89
Voting shares; by-laws; amendment of certificate of incorporation
90
Net retained proceeds or losses; distribution and payment
91
Directors; officers
92
Internal capital accounts; recall or redemption of shares; interest; collective reserve account
93
Internal capital account cooperatives
94
Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger