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Sample Membership Agreement

Sample Membership Agreement

This agreement outlines the rights and responsibilities of an individual that has purchased a membership in the Co-operative and the obligations of the Co-operative to those members.

Rights as a member of the co-operative

As a member of the co-operative I am entitled to:

  • Have one vote at general and other co-op meetings and receive proper notice of meetings
  • Serve on a committee or run for a position on the board of directors
  • Participate in the co-operative’s operations and governance
  • Raise concerns or issues I identify with the co-operative
  • Receive information about the co-operative’s financial status and other important processes or decision (e.g. resolutions).
  • Receive patronage rebates in accordance with my use of the co-operative
  • Receive dividends on shares held in the co-operative

Responsibilities as a member of the co-operative

As a member of the co-operative I have a responsibility to:

  • Participate in the governance of the co-operative through attendance of general meeting, voting on decisions, asking questions, and participating on boards and committees
  • Support the mission, vision, and goals of the co-operative
  • Adhere to the policies and procedures of the co-operative set out in the organizational documents and created by the board
  • Support the co-operative’s operations by using its services or contributing to the delivery of services
  • Learn more about the co-operative’s operations and organizational capacity
  • Support the capitalization of the co-operative by making a financial contribution

Obligations of the co-operative to members

As a member of the co-operative, I understand that the co-operative is obligated to:

  • Provide notice of meetings and information on ways that I can participate in the co-operative’s governance
  • Maintain a transparent and efficient system of decision-making that is inclusive of the membership and supportive of the mission and vision of the co-operative
  • Conduct business, through the board or staff, that is in the best interest of the co-operative and its members
  • Use my financial contribution effectively and responsibly and redeem my shares in the event I leave the co-operative

 

Declaration

I _________________________ understand the rights and responsibilities of membership in the Co-operative and agree to them. I agree to buy __ membership shares with a par value of $____ and ___ investment shares at a value of $____.

Signature: _____________________________ Date: ___________________

Name: _______________________________

Address: _____________________________

Phone: ______________________________

E-mail: ______________________________

 

Board member: _________________________ Date: ____________________

 

Disclaimer: While much of the content in this sample agreement has been influenced by co-operatives in western Canada, it does not apply to any single organization and can be used without risk of plagiarism. This content should be customized to match the values, ideas, and intentions of each individual co-op.

 

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