§ 10A-11-1.01 Short title
§ 10A-11-1.02 Definitions
§ 10A-11-1.03 Election as employee cooperative
§ 10A-11-1.04 Revocation
§ 10A-11-1.05 Corporate name
§ 10A-11-1.06 Members; membership shares; rights and responsibilities
§ 10A-11-1.07 Directors and officers
§ 10A-11-1.08 Voting power; amendment or repeal of bylaws; protection of stockholders
§ 10A-11-1.09 Apportionment, etc., of net earnings or losses
§ 10A-11-1.10 Internal capital accounts
§ 10A-11-1.11 Internal capital account cooperatives
§ 10A-11-1.12 Conversion of membership shares, etc.; merger of employee cooperatives

Terms Used In Alabama Code > Title 10A > Chapter 11 - Employee Cooperative Corporations

  • apprentice: A worker at least 14 years of age, except where a higher minimum age standard is otherwise fixed by law, who is employed to learn an apprenticeable occupation. See Alabama Code 41-29-341
  • APPRENTICEABLE OCCUPATION: As defined in 29 C. See Alabama Code 41-29-341
  • APPRENTICESHIP AGREEMENT: A written agreement between an apprentice and either the apprentice's program sponsor or an apprenticeship committee acting as agent for the program sponsor, which contains the terms and conditions of the employment and training of the apprentice in conformance with 29 C. See Alabama Code 41-29-341
  • APPRENTICESHIP PROGRAM: A plan containing all terms and conditions for the qualification, recruitment, selection, employment, and training of apprentices, as required under the federal guidelines in 29 C. See Alabama Code 41-29-341
  • COLLECTIVE RESERVE ACCOUNT: An internal capital account that represents the portion of the net book value of the corporation attributable to the cooperative. See Alabama Code 10A-11-1.02
  • conversion: A conversion, whether referred to as a conversion, domestication, or otherwise, means:

    (A) the continuance of a domestic entity as a foreign entity of any type;

    (B) the continuance of a foreign entity as a domestic entity of any type; or

    (C) the continuance of a domestic entity of one type as a domestic entity of another type. See Alabama Code 10A-1-1.03

  • cooperative: Includes an employee cooperative as defined in Chapter 11. See Alabama Code 10A-1-1.03
  • corporation: Includes a domestic or foreign business corporation, including a benefit corporation, as defined in Chapter 2A, a domestic or foreign nonprofit corporation as defined in Chapter 3, a domestic or foreign professional corporation as defined in Chapter 4, and those entities specified in Chapter 20 as corporate. See Alabama Code 10A-1-1.03
  • director: An individual who serves on the board of directors, by whatever name known, of a foreign or domestic corporation. See Alabama Code 10A-1-1.03
  • director: The Director of the Alabama Office of Apprenticeship. See Alabama Code 41-29-341
  • distribution: A transfer of property, including cash, from an entity to an owner or member of the entity in the owner's or member's capacity as an owner or member. See Alabama Code 10A-1-1.03
  • ELIGIBLE EMPLOYER: As defined in Section 40-18-421. See Alabama Code 41-29-341
  • EMPLOYEE COOPERATIVE: A corporation which has elected to be governed by this chapter. See Alabama Code 10A-11-1.02
  • employer: An individual or organization employing an apprentice whether or not the individual or organization is a party to an apprenticeship agreement with the apprentice. See Alabama Code 41-29-341
  • Executor: A male person named in a will to carry out the decedent
  • individual: A natural person and the estate of an incompetent or deceased natural person. See Alabama Code 10A-1-1.03
  • INTERNAL CAPITAL ACCOUNT COOPERATIVE: An employee cooperative governed in accordance with Section 10A-11-1. See Alabama Code 10A-11-1.02
  • INTERNAL CAPITAL ACCOUNTS: A system of accounts on the books of an employee cooperative that reflects the book value of the corporation. See Alabama Code 10A-11-1.02
  • law: Unless the context requires otherwise, both statutory and common law. See Alabama Code 10A-1-1.03
  • Legatee: A beneficiary of a decedent
  • LICENSING AUTHORITY: An agency, board, commission, or other office with the authority to require occupational fees or issue licensing requirements for practice of an apprenticeable occupation. See Alabama Code 41-29-341
  • member: A natural person who has been accepted for membership in and owns a membership share issued by an employee cooperative. See Alabama Code 10A-11-1.02
  • MEMBERSHIP FEE: The consideration paid for a membership share. See Alabama Code 10A-11-1.02
  • MEMBERSHIP SHARE: A single share of voting stock issued to each member of a worker cooperative as evidence of membership. See Alabama Code 10A-11-1.02
  • officer: An individual elected, appointed, or designated as an officer of an entity by the entity's governing authority or under the entity's governing documents. See Alabama Code 10A-1-1.03
  • patronage: The amount of work performed as a member of an employee cooperative, measured in accordance with the governing documents. See Alabama Code 10A-11-1.02
  • person: An individual, including the estate of an incompetent or deceased individual, or an entity, whether created by the laws of this state or another state or foreign country, including, without limitation, a general partnership, limited liability partnership, limited partnership, limited liability limited partnership, limited liability company, corporation, professional corporation, nonprofit corporation, professional association, trustee, personal representative, fiduciary, as defined in Section 19-3-150 or person performing in any similar capacity, business trust, estate, trust, association, joint venture, government, governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Alabama Code 10A-1-1.03
  • property: Includes all property, whether real, personal, or mixed, or tangible or intangible, or any right or interest therein. See Alabama Code 10A-1-1.03
  • Testator: A male person who leaves a will at death.
  • WORK-BASED LEARNING: Sustained interactions with industry or community professionals in real workplace settings, to the extent practicable, or simulated environments at an educational institution that foster in-depth, first-hand engagement with the tasks required of a given career field, that are aligned to curriculum and instruction. See Alabama Code 41-29-341
  • WRITTEN NOTICE OF ALLOCATION: A written statement 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. See Alabama Code 10A-11-1.02