Tuesday, June 17, 2008

Reorganization of the Cooperative

501(c)12, tax-exempt, non-profit status
1) Board of directors will be elected for 2 year terms, with half of the board up for reelection each year.
Board will nominate the officers.

2)A draft set of bylaws will be written up and posted here.
Our current bylawsw borrow heavily from other successful biodiesel cooperatives: Piedmont and Yokayo.
We plan to have all members purchase a share of stock (presumably this will be paid for by the $70 application fee we now charge) and along with it, the right to vote.
A quorum will be 10 members for any given meeting.

3)Naming of operators
Heads of committees will name someone to execute the responsibilities of the committee at short notice.
Eventually these may become paid positions.

No comments: