In the past year, with the help of Cooperative Development Services and legal consultants from the law firm Dorsey & Whitney, the Co-op Board has been working to sort out what to do with the abandoned equity on our books and how to issue a patronage rebate if it is determined that it is feasible for the financial health of the store to do so. This has brought up many questions and issues with the current Articles (last revision 1973) and Bylaws (last revision 1997). We are hoping to address all of this with the set of documents linked below.
Because you are a shareholder, we value your interest in the store’s success and hope you will help us out by reading these documents and giving us your feedback. If possible, please review the enclosed documents and return to the Co-op Board with your comments by June, 2018 by emailing Honor Schauland (firstname.lastname@example.org) or bring your comments to the Board at the Annual Meeting.
Our plan is to gather comments from various shareholders, revise if possible, and then present these documents for discussion at the Annual Meeting on June 28th, 2017. It is our hope that we will bring the final version of the proposed Articles and Bylaws for a vote at the 2018 annual meeting.
Thanks for your help.
Honor Schauland, Secretary
Finland Co-op Board of Directors
Click to read the entire text: