Source: https://app.leg.wa.gov/RCW/default.aspx?cite=23.78&full=true
Timestamp: 2020-05-29 01:59:19
Document Index: 64721146

Matched Legal Cases: ['§ 2', '§ 9101', '§ 9', '§ 3', '§ 9102', '§ 10', '§ 4', '§ 5', '§ 11', '§ 6', '§ 12', '§ 7', '§ 8', '§ 14', '§ 11', '§ 1']

Chapter 23.78 RCW: EMPLOYEE COOPERATIVE CORPORATIONS
RCWs > Title 23 > Chapter 23.78
Chapter 23.78 RCW
EMPLOYEE COOPERATIVE CORPORATIONS
23.78.010 Definitions.
23.78.020 Election by corporation to be governed as an employee cooperative—Laws governing.
23.78.030 Revocation of election.
23.78.040 Corporate name.
23.78.050 Members—Membership shares.
23.78.060 Right to vote—Power to amend or repeal bylaws—Right to amend articles of incorporation.
23.78.070 Net earnings or losses—Apportionment, distribution, and payment.
23.78.080 Internal capital accounts authorized—Redemptions—Assignment of portion of retained net earnings and net losses to collective reserve account authorized.
23.78.090 Internal capital account cooperatives.
23.78.100 Provision for conversion of shares and accounts—Limitations upon merger.
23.78.900 Short title.
Employee ownership programs through the department of community, trade, and economic development: RCW 43.63A.230.
RCW 23.78.010
(1) "Employee cooperative" means a corporation that has elected to be governed by the provisions of this chapter.
(2) "Member" means a natural person who has been accepted for membership in, and owns a membership share issued by an employee cooperative.
(3) "Patronage" means the amount of work performed as a member of an employee cooperative, measured in accordance with the articles of incorporation and bylaws.
(4) "Written notice of allocation" means a written instrument which discloses to a member the stated dollar amount of the member's patronage allocation, and the terms for payment of that amount by the employee cooperative.
[ 1987 c 457 § 2.]
RCW 23.78.020
Election by corporation to be governed as an employee cooperative—Laws governing.
Any corporation organized under the laws of this state may elect to be governed as an employee cooperative under the provisions of this chapter, by so stating in its articles of incorporation, or articles of amendment filed in accordance with Title 23B RCW and Article 2 of chapter 23.95 RCW.
[ 2015 c 176 § 9101; 1991 c 72 § 9; 1987 c 457 § 3.]
RCW 23.78.030
An employee cooperative may revoke its election under this chapter by a vote of two-thirds of the members and through articles of amendment delivered to the secretary of state for filing in accordance with RCW 23B.01.200, 23B.10.060, and Article 2 of chapter 23.95 RCW.
[ 2015 c 176 § 9102; 1991 c 72 § 10; 1987 c 457 § 4.]
RCW 23.78.040
An employee cooperative may include the word "cooperative" or "co-op" in its corporate name.
[ 1987 c 457 § 5.]
RCW 23.78.050
Members—Membership shares.
(2) An employee cooperative shall issue a class of voting stock designated as "membership shares." Each member shall own only one membership share, and only members may own these shares.
[ 1991 c 72 § 11; 1987 c 457 § 6.]
RCW 23.78.060
Right to vote—Power to amend or repeal bylaws—Right to amend articles of incorporation.
[ 1991 c 72 § 12; 1987 c 457 § 7.]
RCW 23.78.070
Net earnings or losses—Apportionment, distribution, and payment.
[ 1987 c 457 § 8.]
RCW 23.78.100
Provision for conversion of shares and accounts—Limitations upon merger.
[ 1991 c 72 § 14; 1987 c 457 § 11.]
RCW 23.78.900
[ 1987 c 457 § 1.]