Washington Code 23.78.060 – Right to vote — Power to amend or repeal bylaws — Right to amend articles of incorporation
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(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 in the articles of incorporation.
Terms Used In Washington Code 23.78.060
- 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.
(2) The power to amend or repeal bylaws of an employee cooperative shall be in the members only.
(3) Except as otherwise permitted by RCW 23B.10.040, no capital stock other than membership shares shall be permitted to vote on any amendment to the articles of incorporation.