PT Food Co-op

The Food Co-op, 414 Kearney Street, Port Townsend, 98368
Port Townsend
Phone: (360) 385-2883

Posts Tagged ‘artilces of incorporation’

News from the Board Nov 2014

November 21st, 2014 by Rachel Williams

PATRONAGE DIVIDEND VOTE graphicMembers Approve Patronage Dividends

The results are in from the member vote on adopting a Patronage Dividend System. Members had the opportunity to vote, during a 25 day period beginning October 25 and ending November 19th, whether or not to adopt changes to The Food Co-op’s Articles of Incorporation that would allow for Patronage Dividends. We are pleased to announce that the initiative passed with 94% in favor. A total of 973 votes were recorded, with 915 Yes votes and 58 No votes.

Board Vote December 2 on By-Law Amendment

The next step in the process of establishing a Patronage Dividend system is for the board to approve changes to The Food Co-op’s bylaws. These changes will bring the bylaws into alignment with the new Articles of Incorporation, and further specify how Patronage Dividends will be implemented. The Board will vote on adopting these By-Law changes at the December 2nd 2014 regular meeting. The By-Law Amendment can be downloaded below and is also posted on the Board’s Board in the store.

By-Law Amendment 12.2.14

Thanks for taking the time to be an engaged member of The Food Co-op!

News from the Board Oct 2014

October 20th, 2014 by Rachel Williams

PATRONAGE DIVIDEND SYSTEM

PATRONAGE DIVIDEND VOTE graphic

MEMBER VOTE BEGINING OCTOBER 25

The Board is proposing to implement a patronage dividend system for The Coop. The system would allow us to re-allocate some of our end of year profits—money that otherwise would be paid as taxes! This option is a benefit open only to cooperatives, as a way of redistributing profits back to the membership. Though the amount any member owner might receive is small, the cumulative effect of bringing thousands of dollars back into our community is significant. In order to make this change, a quorum of the membership must vote whether to amend our Articles of Incorporation to include provisions governing how the system would be implemented. And because our original articles were actually filed under the wrong statute 42 years ago, this also gives us the opportunity to resolve that old history.

A 25 day voting period will begin October 25, 2014. Members should look for an email with instructions for voting online. Alternatively, members may vote by paper ballot in the store during the voting period.

FOR MORE INFORMATION

Download and read the full text of the proposed and existing Articles of Incorporation.

PROPOSED (NEW) ARTICLES OF INCORPORATION

EXISTING (OLD) ARTICLES OF INCORPORATION

Find answers to frequently asked questions about Patronage Dividends:

FAQs ABOUT PATRONAGE DIVIDENDS 

Attend a Special General Meeting on October 25, 2:15pm-4pm at the Senior Center/Rec Center in uptown Port Townsend. All members are invited to come and learn more about the proposal.

Talk with members of the Board and/or the GM in the Store Alcove during the following days/times: Friday Oct 24, 11am-2pm, Monday Oct 27 2:30-5:30pm, Saturday Nov 8 2:30-5:30pm, Monday Nov 10 2:30-5:30pm & Monday Nov 17 2:30-5:30pm.

Review an article on Patronage Dividends from Board Secretary Lisa Barclay (originally published in the Spring 2014 Commons):

A Patronage Dividend System: Keeping Our Money in Our Community

Read an “opposing view” submitted by a concerned co-op member:

An Opposing View

ACTIVE MEMBER BY-LAW CHANGE APPROVED

At the Board Meeting Tuesday October 7, 2014 the board voted to adopt an amendment to Article II Membership and Article VII Capital of the By-Laws. The amendment updates and clarifies the definition of “Active Member” status, which determines eligibility to vote in co-op elections. These changes will be in effect for the upcoming Patronage Dividend vote beginning October 25th.

  • Voter eligibility will be determined at the end of the day before voting begins. This is the biggest change from our previous policy.  Members will no longer be able to pay CI during the voting period to become eligible.
  • Members will need to have shopped at The Food Co-op at least one time during the previous 12 months in order to be eligible to vote.

Summary: Active Member By-law Change

Active Member Bylaws change approved 10.7.14

Thank you for taking the time to be an informed and engaged member of the Food Co-op!

Members may contact the board at coopboard@foodcoop.coop.

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