Bill Information

An Act providing for the incorporation of productive and distributive workers' cooperatives, for the articles of incorporation thereof and amendments of the articles; providing for capital stock, internal capital accounts and net worth, membership and voting, and the individual liability of members; providing for corporate powers, investments, meetings, records, audits, officers and directors, distributions, indemnity, dividends, bylaws, dissolutions, conversion, and for a certain tax exemption; providing penalties; and making repeals.