Maine Revised Statutes Title 13 Sec. 1977 – Membership in employee cooperative corporation
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maine Revised Statutes Title 13 Sec. 1977
- Employee cooperative: means a corporation which has duly elected to be governed by this subchapter. See Maine Revised Statutes Title 13 Sec. 1972
- Member: means a natural person who has been accepted for membership in and owns a membership share issued by an employee cooperative. See Maine Revised Statutes Title 13 Sec. 1972
The articles of incorporation or the bylaws shall establish qualifications and the methods of acceptance and termination of members. No person may be accepted as a member unless employed by the employee cooperative on a full-time or part-time basis. [PL 1983, c. 136 (NEW).]
SECTION HISTORY
PL 1983, c. 136 (NEW).