CHANGES IN QUALIFYING SHARES
ACCORDING TO THE NATURE OF OPERATIONS
If and when the cooperative decides to change the number of qualifying shares based on the nature of the operations which the member participates (i.e., producer members vs. consumer members), we will have to replace Article 2.1 of by-law 1 by something like the following:
2.1 Qualifying shares
To become a member, a person must purchase the minimum number of qualifying shares corresponding to the nature of the operations with which they mainly interact with the cooperative during a fiscal year.
The value of common shares is ten dollars ($10.00) each and preferred shares is one dollar ($1.00) each.
|Nature of operations||Number of common shares||Number of preferred shares||Total|
|Producer Member||One (1)||Four-hundred ninety (490)||$500 (USD)|
|Consumer Member||One (1)||Ninety (90)||$100 (USD)|
|Reseller Member||One (1)||Nine-hundred ninety (990)||$1000 (USD)|
|Worker Member||One (1)||Forty (40)||$50 (USD)|
|Supporting Member||One (1)||Ninety (90)||$100 (USD)|