- Target:
- Assembly Banking and Finance Committee
- Region:
- United States of America
This petition has been closed.
Ab 1161 modernizes the Consumer Cooperative Corporation Law to make specific provisions for worker cooperatives. These updates allow for greater democratic rights and flexibility for the members and workers of cooperatives.
Updates to the code include:
• Allowing cooperatives to define in their bylaws who their members are.
• Giving the right to the members, and not the board, to adopt or amend bylaws.
• Removing the presumption that the president, or if there is no president the chair of the board, is the chief executive officer
• A provision that major decisions must be approved by the members
• Allowing worker cooperative to elect to be a “unitary cooperative.” In a unitary cooperative, all of the members constitute the board.
• Lengthening the annual report filing period to bring it into line with tax filing deadlines.
• Reducing notice requirements for meetings of worker members given that members interact with each other on a daily basis
• Allowing cooperatives to provide limited voting rights to shareholders for major decisions.
This bill is sponsored by Assemblymember Nancy Skinner (D–Berkeley).
"We, the undersigned, support a reform the Consumer Cooperative Corporation Law in an effort to make revisions for worker cooperatives."
The Support Worker Cooperatives petition to Assembly Banking and Finance Committee was written by Rahwa and is in the category Law Reform at GoPetition.