Revised Code of Washington - RCW Title 23 Corporations And Associations (Profit) (Business Corporation Act: See Title 23b Rcw) - Chapter 23.78 Employee Cooperative Corporations

• 23.78.010 Definitions
  For the purposes of this chapter, the terms defined in this section have the meanings given: (1) "Employee cooperative" means a corporation that has elected ...
• 23.78.020 Election by corporation to be governed as an employee cooperative -- Laws governing
  Any corporation organized under the laws of this state may elect to be governed as an employee cooperative under the provisions of this chapter, by ...
• 23.78.030 Revocation of election
  An employee cooperative may revoke its election under this chapter by a vote of two-thirds of the members and through articles of amendment filed with ...
• 23.78.040 Corporate name
  An employee cooperative may include the word "cooperative" or "co-op" in its corporate name.[1987 c 457 § 5.] ...
• 23.78.050 Members -- Membership shares
  (1) The articles of incorporation or the bylaws shall establish qualifications and the method of acceptance and termination of members. No person may be accepted ...
• 23.78.060 Right to vote -- Power to amend or repeal bylaws -- Right to amend articles of incorporation
  (1) No capital stock other than membership shares shall be given voting power in an employee cooperative, except as otherwise provided in this chapter, or ...
• 23.78.070 Net earnings or losses -- Apportionment, distribution, and payment
  (1) The net earnings or losses of an employee cooperative shall be apportioned and distributed at the times and in the manner as the articles ...
• 23.78.080 Internal capital accounts authorized -- Redemptions -- Assignment of portion of retained net earnings and net losses to collective reserve account authorized
  (1) Any employee cooperative may establish through its articles of incorporation or bylaws a system of internal capital accounts to reflect the book value and ...
• 23.78.090 Internal capital account cooperatives
  (1) An internal capital account cooperative is an employee cooperative whose entire net book value is reflected in internal capital accounts, one for each member, ...
• 23.78.100 Provision for conversion of shares and accounts -- Limitations upon merger
  (1) When any employee cooperative revokes its election in accordance with RCW 23.78.030, the articles of amendment shall provide for conversion of membership shares and ...
• 23.78.900 Short title
  This chapter may be cited as the employee cooperative corporations act.[1987 c 457 § 1.] ...
• 23.78.902 Severability -- 1987 c 457
  If any provision of this act or its application to any person or circumstance is held invalid, the remainder of the act or the application ...

Last modified: April 7, 2009