Rights, Responsibilities and Obligation of Membership

 

This blog post outlines the rights and responsibilities of an individual that has paid full annual membership and has purchased investment shares in Amazing Ventures Multipurpose cooperative Society limited. 

Also discussed are the the obligations of the Co-operative to those members.

Rights as a member of the co-operative

All fully paid up members of the co-operative are 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 one notices or identifies 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 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, responsibilities include to:

• Familiarize oneself with the cooperative's by-laws
• 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, one should understand that the co-operative is obligated to:

• Provide notice of meetings and information on ways that members 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 members' financial contribution effectively and responsibly and redeem a member's shares in the event the member leaves the co-operative