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2019 SESSION

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HB 1762 Worker cooperatives; established as a category of cooperative associations.

Introduced by: Lee J. Carter | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Worker cooperatives. Establishes worker cooperatives as a category of cooperative associations. A worker cooperative is a stock corporation that has elected to be governed by provisions established by this measure, which include (i) conducting its business primarily for the mutual benefit of its members, (ii) allowing only current and retired employees to be members, (iii) limiting voting rights to current employees, (iv) providing that each employee is entitled to one vote, and (v) requiring that net earnings be paid or credited to members in accordance with the ratio that each member's amount of work performed during a period bears to the total amount of work performed by all members during that period.


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