reglab/housing_qa huggingface dataset:
NY Coop Corp L § 84 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 5-A - Worker Cooperative Corporations 84 - Applicability of the Business Corporation Law.

§  84. Applicability of the business corporation law. 1. A corporation   electing to be governed as  a  worker  cooperative  in  accordance  with   section  eighty-two  of this article shall be governed by all provisions   of the business corporation law, except as otherwise  provided  in  this   article.2.  Notwithstanding the provisions of paragraph (b) of subdivision (1)   of section five of this chapter, the following sections of the  business   corporation  law  shall  apply  to  worker  cooperatives,  except  where   otherwise provided in this article: section four hundred three,  section   five  hundred  five,  paragraph  (c)  of  section five hundred eighteen,   paragraph (a) of section six hundred eight,  paragraph  (a)  of  section   seven  hundred  three,  section  seven hundred four and paragraph (a) of   section eight hundred three.3. The following sections of the business corporation  law  shall  not   apply to membership shares in a worker cooperative as defined in section   eighty-one  of  this  article:  section five hundred three, section five   hundred four, section five hundred nine, paragraph (c) of  section  five   hundred   twelve,  section  six  hundred  twelve,  section  six  hundred   seventeen,  section  six  hundred  twenty-two,   section   six   hundred   twenty-three,  section  six  hundred twenty-five and section six hundred   twenty-eight.
NY Coop Corp L § 85 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 5-A - Worker Cooperative Corporations 85 - Applicability of the Cooperative Corporations Law.

§  85. Applicability of the cooperative corporations law. Except where   limited or excluded in this article,  all  provisions  of  this  chapter   shall  apply  to  worker  cooperatives.  The  following  sections of the   cooperative corporations law shall not  apply  to  worker  cooperatives:   paragraph  (e) of section three, section eleven, section twelve, section   fifteen, section sixteen, section seventeen, section  eighteen,  section   forty-six,  section  seventy,  section seventy-one, section seventy-two,   section seventy-four,  section  seventy-five,  section  seventy-six  and   section seventy-seven.
NY Coop Corp L § 86 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 5-A - Worker Cooperative Corporations 86 - Revocation of Election.

§  86.  Revocation  of  election.  A worker cooperative may revoke its   election  under  section  eighty-two  of  this  article  by  a  vote  of   two-thirds  of  the members and through a certificate of amendment filed   in accordance with article eight of the business corporation law.
NY Coop Corp L § 87 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 5-A - Worker Cooperative Corporations 87 - Corporate Name.

§  87.  Corporate  name.  A  worker cooperative shall include the word   "cooperative",  "corporation",  "incorporated"  or  "limited"   in   its   corporate name, or an abbreviation of one of such words, notwithstanding   inconsistent  provisions  in  this  chapter  or  in article three of the   business corporation law.
NY Coop Corp L § 88 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 5-A - Worker Cooperative Corporations 88 - Members; Membership Shares; Fees; Rights and Responsibilities.

§  88.  Members; membership shares; fees; rights and responsibilities.   1. The certificate of  incorporation  or  the  by-laws  shall  establish   qualifications  and the method of acceptance and termination of members.   Upon completion of his or her probationary period, all regular full-time   or part-time  employees  shall  be  offered  membership  in  the  worker   cooperative.  Acceptance  as  a  member in a worker cooperative shall be   evidenced by a membership share, which shall be issued for a fee  to  be   paid in such terms and conditions as are provided in the by-laws.2. A worker cooperative shall issue a class of voting stock designated   as  "membership  shares". Each member shall own only one such membership   share, and only members may own such shares.3. Notwithstanding section forty  of  this  chapter  acceptance  as  a   member in a worker cooperative shall be evidenced by a membership share,   which  shall be issued for a fee to be paid in such terms and conditions   as are provided in the by-laws.4. The redemption price of membership  shares  may  be  determined  by   reference  to internal capital accounts as defined in section ninety-two   of this article, notwithstanding section six hundred twenty-three of the   business corporation law.5. The stockholders in a worker cooperative shall have all the  rights   and  responsibilities  of stockholders of a corporation formed under the   provisions of the business corporation law, except as otherwise provided   in this article and chapter.
NY Coop Corp L § 89 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 5-A - Worker Cooperative Corporations 89 - Voting Shares; By-Laws; Amendment of Certificate of Incorporation.

§   89.   Voting   shares;   by-laws;   amendment  of  certificate  of   incorporation. 1. No capital stock other than membership shares shall be   given voting power in a worker cooperative, except as otherwise provided   in this article.2. In  accordance  with  section  six  hundred  one  of  the  business   corporation  law,  the  power  to  amend  or  repeal by-laws of a worker   cooperative shall be in the members  only,  except  to  the  extent  the   directors  are  authorized  to amend or repeal the by-laws in accordance   with said section six hundred one.3. The provisions of article eight of  the  business  corporation  law   shall  be  construed to limit voting on any amendment of the certificate   of incorporation of a worker cooperative to  the  members,  except  that   non-member  stockholders  shall participate in such voting in accordance   with section eight hundred three of the business corporation law where a   proposed amendment would adversely affect the rights of such  non-member   stockholders as provided in subparagraphs two and three of paragraph (a)   and paragraph (b) of section eight hundred four of such law.
NY Coop Corp L § 90 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 5-A - Worker Cooperative Corporations 90 - Net Retained Proceeds or Losses; Distribution and Payment.

§  90.  Net  retained proceeds or losses; distribution and payment. 1.   The net retained proceeds or losses of a  worker  cooperative  shall  be   apportioned  and  distributed  at  such  times and in such manner as the   certificate of incorporation or  by-laws  shall  specify.  Net  retained   proceeds  declared  as patronage allocations with respect to a period of   time, and paid or credited to members, shall be  apportioned  among  the   members  in  accordance  with  the  ratio  which each member's patronage   during the period involved bears  to  total  patronage  by  all  members   during  that  period.  As  used  in  this article, "patronage" means the   amount of work performed as a member of a worker  cooperative,  measured   in accordance with the certificate of incorporation and by-laws.2. The   apportionment,  distribution  and  payment  of  net  retained   proceeds required by subdivision one of this section  may  be  in  cash,   credits,  written  notices of allocation, or capital stock issued by the   worker cooperative.
NY Coop Corp L § 91 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 5-A - Worker Cooperative Corporations 91 - Directors; Officers.

§  91.  Directors;  officers.  1.  The by-laws of a worker cooperative   shall provide for the election,  terms,  classifications,  if  any,  and   removal  of  directors and officers in accordance with the provisions of   this chapter or the provisions of the business corporation law.2. Non-members  may  serve  as  directors  or  officers  of  a  worker   cooperative  but  at  no  time  shall  there be a majority of non-member   directors.3. Notwithstanding section sixty-four of this chapter, non-members may   serve as president and first vice-president of a worker cooperative.4. Vacancies in director positions resulting from  death,  resignation   or removal shall be filled by vote of the member directors.
NY Coop Corp L § 92 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 5-A - Worker Cooperative Corporations 92 - Internal Capital Accounts; Recall or Redemption of Shares; Interest; Collective Reserve Account.

§  92.  Internal  capital  accounts;  recall  or redemption of shares;   interest; collective reserve account.  1.  Any  worker  cooperative  may   establish  through  its certificate of incorporation or by-laws a system   of internal capital accounts, to reflect the book value and to determine   the redemption price of membership shares,  capital  stock  and  written   notices  of  allocation.  As  used  in  this article, "written notice of   allocation" means a written instrument which discloses to a  member  the   stated dollar amount of such member's patronage allocation and the terms   for payment of that amount by the worker cooperative.2. The certificate of incorporation or by-laws of a worker cooperative   may  permit the periodic redemption of written notices of allocation and   capital stock, and  must  provide  for  recall  and  redemption  of  the   membership  share  upon termination of membership in the cooperative. No   redemption shall  be  made  if  such  redemption  would  result  in  the   liability  of  any  director  or officer of the worker cooperative under   section seven hundred nineteen and section seven hundred twenty  of  the   business corporation law.3. The  certificate  of  incorporation  or by-laws may provide for the   worker cooperative to pay or credit interest  on  the  balance  in  each   member's internal capital account.4. The   certificate   of   incorporation  or  by-laws  may  authorize   assignment of a portion of net retained proceeds and  net  losses  to  a   collective  reserve  account.  Net  retained  proceeds  assigned  to the   collective reserve account  may  be  used  for  any  and  all  corporate   purposes as determined by the board of directors.
NY Coop Corp L § 93 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 5-A - Worker Cooperative Corporations 93 - Internal Capital Account Cooperatives.

§  93.  Internal capital account cooperatives. 1. A worker cooperative   may provide in its by-laws that it shall operate as an internal  capital   account  cooperative.  An  internal  account  cooperative  is  a  worker   cooperative whose entire net book value is reflected in internal capital   accounts, one for each member, and a collective reserve account, and  in   which  no  persons other than members own capital stock.  In an internal   capital account cooperative, each member shall have  one  and  only  one   vote in any matter requiring voting by stockholders.2. An  internal  capital  account cooperative shall credit the paid-in   membership fee and  additional  paid-in  capital  of  a  member  to  the   member's   internal   capital   account,   and  shall  also  record  the   apportionment of net retained proceeds or net losses to the  members  in   accordance  with  patronage  by  appropriately crediting or debiting the   internal capital accounts of members. The collective reserve account  in   an  internal  capital  account  cooperative  shall  reflect  any paid-in   capital,  net  losses  and  net  retained  proceeds  not  allocated   to   individual members.3. In an internal capital account cooperative, the balances in all the   individual  internal capital accounts and collective reserve account, if   any, shall be adjusted at the end of each accounting period so that  the   sum  of  the  balances  is  equal  to  the  net book value of the worker   cooperative.4. Section six hundred twenty-three of the  business  corporation  law   shall not apply to an internal capital account cooperative.
NY Coop Corp L § 94 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 5-A - Worker Cooperative Corporations 94 - Conversion of Membership Shares and Internal Capital Accounts Upon Revocation of Election; Consolidation or Merger.

§  94.  Conversion  of membership shares and internal capital accounts   upon revocation of election; consolidation or merger.  When  any  worker   cooperative  revokes  its election in accordance with section eighty-six   of this article, an amendment of the certificate of incorporation  shall   provide  for  conversion  of  membership  shares  and  internal  capital   accounts or their conversion to securities or other property in a manner   consistent with the provisions of the business corporation law.
NY Coop Corp L § 110 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 6 - Agricultural Cooperative Corporation 110 - Declaration of Policy.

§  110. Declaration of policy. It is the declared policy of this state   to promote the effective production and  merchandising  of  agricultural   commodities  by providing the means by which farmers may act together in   manufacturing,  processing,  preparing  for  market,   handling   and/or   marketing their farm products and by enabling farmers to act together in   purchasing, testing, grading, processing, distributing and/or furnishing   farm   supplies  and/or  farm  business  services  through  cooperatives   operated for the mutual benefit of the members thereof as producers  and   purchasers.
NY Coop Corp L § 111 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 6 - Agricultural Cooperative Corporation 111 - Definitions.

§  111.  Definitions.  For  the purposes of this article: (a) the term "agricultural  cooperative"  means  a  cooperative,  either   stock   or non-stock,  operated  for the mutual benefit of the members in which (1) no member is allowed more than one vote because of the amount  of  stock or membership capital he or she may own therein, and (2) the cooperative does  not  pay  dividends  on  stock  or membership capital in excess of twelve per centum per annum, and (3) the cooperative does  not  deal  in farm products, agricultural waste products or agricultural compost, farm supplies,  farm  business  services and the capture of methane and other gases for the generation and use  or  sale  of  energy,  as  defined  in section  1-103  of  the  energy law with or for non-members in an amount greater in value than the total amount of such business transacted by it with or for members.   Only persons engaged in the production of  agricultural  products,  or cooperative  corporations  of such producers organized under the laws of this or any other  state,  shall  be  eligible  for  membership  in  any agricultural  marketing  or  purchasing  corporation  formed or operated under the provisions of  this  article.  The  terms  and  conditions  of membership  shall  be  prescribed in the by-laws. The board of directors shall be chosen at the time  and  place  and  for  terms  fixed  by  the by-laws,  but  at  least  one-fourth  of  the  directors must be elected annually.   The by-laws may provide for their amendment by the board of directors; but any amendment adopted by the board which  affects  the  preferential rights  or  obligations of the members or stockholders shall be reported to the next annual meeting of the corporation, and if not  affirmatively approved  thereat  shall cease to be in effect. Such by-laws reported to the  annual  meeting  may  be  adopted,  repealed  or  amended  on   the affirmative vote of two-thirds of the members, stockholders or delegates voting  thereon at a meeting held after due written notice setting forth the proposed action and the purpose of the meeting.  (b)  The  term  "agricultural  products"  shall  mean   horticultural, viticultural,   dairy,  livestock,  poultry,  bee  and  any  other  farm products.  (c) The terms "feed", "food", and "food products" mean any  substance, capable  of  human, animal or poultry consumption, whether simple, mixed or compound, and all substances or ingredients added to  food  for  such purpose.  (d)  The term "agricultural waste products" means livestock manure and crop residues.  (e) The  term  "agricultural  compost"  means  organic  waste  derived principally  from  farm  operations  and  which  has  been  subjected to aerobic, thermophilic decomposition  to  produce  a  stable,  humus-like material.
NY Coop Corp L § 112 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 6 - Agricultural Cooperative Corporation 112 - Incorporation.

§  112. Incorporation. Five or more producers of agricultural products   may form a cooperative agricultural corporation with or without  capital   stock,  under  this  article.  If  the  principal  activities  of such a   corporation are connected with the marketing,  processing,  manufacture,   sale  or other dispositions of agricultural products, agricultural waste   product, or agricultural compost including the capture  of  methane  and   other  gases for the generation and use or sale of energy, as defined in   section 1-103 of  the  energy  law,  it  may  be  termed  a  cooperative   marketing  corporation  and  incorporated  as  such.  If  its  principal   activities  relate  to  the  purchase  of  supplies  for  producers   of   agricultural  products,  it  may  be  termed  a  cooperative  purchasing   association and  incorporated  as  such,  but  in  either  case  such  a   corporation  may  engage in both such lines of activity. Nothing in this   section or article shall be deemed to prohibit the  incorporation  of  a   cooperative  corporation under article two of this chapter or affect the   existing powers of  any  existing  cooperative  corporation  not  within   section one hundred eleven of this article.
NY Coop Corp L § 113 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 6 - Agricultural Cooperative Corporation 113 - Reserves.

§  113. Reserves. In addition to reserves for depreciation, depletion,   obsolescence and bad debts, agricultural cooperatives shall  create  and   maintain  minimum  general  purpose reserves. Such reserves shall be set   aside periodically until or  unless  they  total  an  aggregate  minimum   amount  computed  in  accordance  with  one  of  the  following optional   methods.The aggregate minimum amount of such general purpose reserve shall  be   computed  and  equal  either  (1) at least two per centum of the average   annual gross receipts of the preceding five years to be accumulated at a   rate of not less than two-fifths of one per centum of the gross receipts   per annum or such part thereof as may  be  necessary  to  establish  and   maintain  such  reserves,  or  (2)  at least the total amount of paid up   capital stock or  membership  capital  contributed  to  the  corporation   accumulated at a rate of not less than ten per centum of the net margins   in  each  year or such part thereof as may be necessary to establish and   to maintain such reserve,  or  (3)  at  least  an  amount  necessary  to   establish  a  sixty per centum net worth wherein the paid in capital and   surplus (including the general purpose reserve) shall  equal  sixty  per   centum  of  the total assets of the cooperative. Such a reserve shall be   accumulated at a rate of not less than ten per centum of the net margins   in each year or such part thereof as may be necessary to  establish  and   to maintain such reserves.The  general  purpose  reserve  created, accumulated and maintained in   accordance with this article six  shall  be  deemed  to  be  a  required   statutory  reserve  for each agricultural cooperative as defined in this   article.
NY Coop Corp L § 120 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 7 - Provisions as to Credit and Agency Corporations 120 - Organization.

§  120. Organization. A cooperative corporation may be organized as an   agency, subsidiary or holding corporation to assist, further and finance   other  cooperative  corporations  in  their   corporate   purposes   and   activities. A credit corporation may be organized solely for the purpose   of  acting as an agency to enable cooperative corporations, organized or   operating under this chapter and the members or stockholders thereof, to   obtain loans  from  the  federal  intermediate  credit  bank  under  and   pursuant  to  an act of congress approved March fourth, nineteen hundred   and twenty-three, known as the  agricultural  credits  act  of  nineteen   hundred  and  twenty-three,  same being chapter eight of title twelve of   the code of laws of the  United  States  as  adopted  by  congress  June   thirtieth,  nineteen  hundred  and twenty-six, and amendments thereto. A   credit corporation may also be organized by  a  cooperative  corporation   for the purpose of financing the ordinary crop operations of the members   of  such  cooperative  corporation, through funds obtained by loans from   any sources or through the issue and sale of common or preferred  stock,   bonds,  debentures  or  other obligations of the credit corporation, and   the payment of such loans  or  obligations  may  be  guaranteed  by  the   cooperative corporation whose members are being so financed.
NY Coop Corp L § 121 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 7 - Provisions as to Credit and Agency Corporations 121 - Special Powers.

§  121.  Special  powers.  Any credit corporation organized under this   chapter may make loans to members of a cooperative corporation owning in   whole or in part the stock of the credit corporation; and no loans shall   be otherwise made.  No loans shall be made for more than ten years;  nor   for other than the agricultural, dairy, or horticultural purposes of the   borrower.  In  all  cases,  there  shall  be  a written statement by the   borrower in the note, collateral agreement or signed application to  the   effect  that  the  loan  will  be  used only for such purposes; and such   statement may be relied upon  by  the  credit  corporation.  The  credit   corporation may discount or pledge such note with a federal intermediate   credit  bank,  or other banks or banking institutions, with its guaranty   or endorsement, if required.A credit  corporation  may  invest  its  capital  funds  in  bonds  or   obligations  of  the  United  States or of any state or municipality, or   such other bonds as are authorized for investment by a savings  bank  or   in  federal  intermediate  credit  bank  obligations, and may deposit or   hypothecate such securities with a federal intermediate credit bank,  or   other banks or banking institutions, as security for notes discounted by   it.
NY Coop Corp L § 122 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 7 - Provisions as to Credit and Agency Corporations 122 - Purchase of Stock, Assets or Business of Other Corporations.

§  122.  Purchase  of stock, assets or business of other corporations.   An agency corporation organized under this article may purchase stock or   property  or  any  interest  in  any  property  of  any  person,   firm,   corporation  or  association,  and  may  discharge  the  obligations  so   incurred wholly or in part, by  exchanging  for  the  acquired  interest   shares  of  its  preferred capital stock to an amount which at par value   would equal the fair market value of the stock or interest so  purchased   as determined by the board of directors.A  corporation  organized  under  the provisions of this article shall   have the right to hold, own and exercise all rights of ownership in, and   to sell, transfer or pledge, shares of capital stock  or  bonds  of  any   other  corporation engaged in any related activity including, but not as   a limitation, the warehousing, handling or marketing,  in  whole  or  in   part, of any of the products handled by the corporation.