§ 33-418f Short title: Worker Cooperative Corporations Act
§ 33-418g Definitions
§ 33-418h Election to be governed as a worker cooperative. Revocation of election. Corporate name
§ 33-418i Membership requirements. Membership shares. Rights of members
§ 33-418j Voting rights of members and shareholders. Amendments to bylaws
§ 33-418k Board of directors’ membership requirements
§ 33-418l Apportionment of earnings and losses
§ 33-418m System of internal capital accounts. Redemption of shares. Interest. Collective reserve account
§ 33-418n Internal capital account cooperatives
§ 33-418o Conversion of shares upon revocation of election. Consolidation or merger restricted
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Terms Used In Connecticut General Statutes > Chapter 599a - Worker Cooperative Corporations

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • another: may extend and be applied to communities, companies, corporations, public or private, limited liability companies, societies and associations. See Connecticut General Statutes 1-1
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Member: means a natural person who or nonprofit organization that has been accepted for membership in, and owns a membership share issued by a worker cooperative. See Connecticut General Statutes 33-418g
  • Nonprofit organization: means any organization that is exempt from taxation under Section 501(c)(3) of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as amended from time to time. See Connecticut General Statutes 33-418g
  • Patronage: means the amount of work performed as a member of a worker cooperative, measured in accordance with the articles of organization and bylaws of that cooperative. See Connecticut General Statutes 33-418g
  • Worker cooperative: means a corporation which has elected to be governed by the provisions of this chapter. See Connecticut General Statutes 33-418g