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Handout 7.2 - Articles of
Incorporation
Articles of Incorporation
_____________________________
(name of business)
____________________________________ (address)
ARTICLE I - Name
The name of the cooperative shall be
________________________________________.
.
ARTICLE II - Purposes
This cooperative is formed for the following purposes: To purchase, market,
and sell for and to members, any supplies, refreshments, or services
desired by the membership; to conduct any other business authorized or
allowed by cooperatives organized under the laws of the State of
_______________; and to conduct these activities on a cooperative basis for
the mutual benefit of members.
ARTICLE III - Powers, Limitations
This cooperative shall have the following powers:
1. To borrow money; to give a lien on any of its assets as
security for loans; and to make advance payments.
2. To act as the agent of any member or members in any of the
activities mentioned in Article II hereof.
3. To advertise and develop markets for items handled by the
cooperative.
4. To buy, lease, hold, and exercise all privileges of
ownership over such property as may be necessary for
conducting the business of the
cooperative.
5. To have and exercise, in addition to the foregoing, all
powers, privileges, and rights conferred on ordinary
corporations by the laws of this
nation.
ARTICLE IV - Place of Business
The cooperative shall have it principal place of business in the city of
_____________, county of _____________, and state of ____________.
ARTICLE V - Duration
This cooperative shall start __________20 ____ and terminate on 20____.
ARTICLE VI - Directors
The board of directors of the cooperative shall consists of not fewer than
_____ members elected from the membership of the cooperative.
ARTICLE VII - Membership
Any person _______________(specify restriction, i.e., age, group), regardless
of race, color, sex, or national origin, shall be entitled to membership.
ARTICLE VIII - Capital Stock
Section 1. The authorized capital stock of the cooperative shall be
_____ shares of common stock with a par value of $_______per share.
Section 2. The common stock of the cooperative shall be issued to and
held by member patrons of said cooperative and no person, firm, or
corporation shall own or hold at any time more than one share of such
common stock or shall have more than one vote in transacting business of
the said cooperative. The transfer of said common stock must be approved by
the board of directors.
IN TESTIMONY WHEREOF, We duly elected board members set our hands on
this ______day of______, 20_____.
_________________________
______________
_________________________ ______________
_________________________ ______________
_________________________ ______________
_________________________ ______________
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