Worker cooperative definition

Worker cooperative or "industrial cooperative" means an establishment in which the owners or members all work in the establishment and are the only persons who work in the establishment. In a worker cooperative or industrial cooperative the workers hold the basic ownership or membership rights of the establishment which consist of the voting rights to elect the board of directors, which in turn appoints the management or staff, and the rights to the profits or net income of the establishment. Each worker has an equal vote in accordance with the democratic principle of 1-person, 1-vote. The net income, which may be positive or negative, is shared among the workers pursuant to an agreed upon formula.

Worker cooperative means a limited worker cooperative

Worker cooperative means a business in which the workers are represented on the board of directors and the workers control the majority of the voting stock, or if the business is held in a trust which controls the majority of the voting stock, the trustees are elected by the workers. The term “worker cooperative” includes a worker cooperative as defined in section 81 of the cooperative corporations law.

Examples of Worker cooperative in a sentence

• Worker cooperative" or "industrial cooperative" means an establishment in which the owners or members all work in the establishment and are the only persons who work in the establishment.

• Worker cooperative basics1 A worker cooperative is “a business entity that is owned and controlled by the people who work in it” according to the United States Federation of Worker Cooperatives (USFWC).

• Worker cooperative rescues: These are formed by workers restructuring failing or bankrupt companies to save jobs.

• Worker cooperative as an organizational alternative: Challenges, achievements and promise in business governance and ownership.

• Specified co-operatives only: Confirmation of securities’ eligibility for RRSP/TFSA purposes is to be in the form of CWCF’s Worker co-operative and Specified co-operative Corporation Shares Declaration, which must be completed by Certified ProfessionalAccountant.

More Definitions of Worker cooperative

Worker cooperative means a corporation incorporated under the provisions of Article 3 (§ 13.1-618 et seq.) of Chapter 9 that has elected to be governed by this article.

Worker cooperative means a cooperative whose articles require that not more than 20% of its members may be persons who are not workers of the cooperative; (« coopérative de travailleurs »)

Worker cooperative means a limited worker cooperative association formed under this Act where all patron members of an association that includes a class of worker-members who are natural persons whose patronage consists of labor contributed to or other work performed for the limited worker cooperative association. Election to be organized as a worker cooperative does not create a presumption that workers are employees of the corporation for any purposes. A worker cooperative formed under this Act may include additional classes of members whose rights and proprietary interests shall be determined by the articles or bylaws. At least 51% of the workers shall be worker-members or candidates.

Worker cooperative or "employment cooperative" means a

Worker cooperative means a corporation incorporated under the provisions of Article 3

Worker cooperative means a corporation formed

Worker cooperative means a cooperative organized under