Thank you for becoming an Owner of Willy Street Grocery Co-op! As an Owner of this grocery cooperative, we encourage you to offer suggestions, ask questions, vote in elections and participate in Co-op events to help make it even more the organization that you want it to be.
The Owner equity amount is redeemable to the owner within 90 days of written resignation from the Co-op (as specified in Section 3.10 of the WSGC Bylaws). I agree that if I fail to request a refund of my Owner equity account the funds in the account may be forfeited to WSGC as specified in Section 185.03(10) of the Wisconsin Statutes. My Owner equity account may not be forfeited to WSGC until at least three years after my ownership has terminated, and only if at least 60 days in advance of such forfeiture WSGC notifies me, at my last known address, of the potential date of such forfeiture, and I still fail to request a refund.
3.1: The Co-op shall have one class of Owners. “Owners” in these bylaws is equivalent to and used in place of the term “members” as used in Chapter 185.
3.2: Ownership in the Co-op shall be voluntary and open to any person, household, cooperative or non-profit corporation that wishes to support the Co-op’s activities, intends to use its services, and will accept the responsibilities of Ownership. Persons entering into an Ownership must be at least 18 years of age and capable of accepting the legal responsibilities of Ownership.
3.3: The Co-op shall not discriminate on the basis of age, race, color, sex, sexual orientation, gender identity, religion or atheism, national or ethnic origin or ancestry, citizenship status, political beliefs, veteran status, disability status, marital status, source of income, arrest record, conviction record, less than honorable discharge, physical appearance, genetic identity, familial status, student status, domestic partner status, receipt of rental assistance, refusal to disclose their social security number, homelessness, unemployment status or any other category protected by local, state or federal law.
3.4: Submitting a completed Ownership application and payment towards an Owner equity share is required in order to become an Owner. An application for Ownership may be subject to approval by the Board of Directors.
3.5: The Owner equity share is the dollar amount that is required to purchase an Ownership share. The Board of Directors may make provisions allowing the purchase of this share in installments over time and may allocate a portion of each payment as a non-refundable administrative fee. Any change to the amount of the Owner equity share shall be approved by the Owners using the signed ballot process described in Section 4.7.
3.6: An Owner is considered to be current and in good standing if the Owner has made a purchase at least once in the past 12 months and either the Owner equity share is paid in full or the required installment payments have been made.
3.7: Ownership may be terminated voluntarily by an Owner at any time upon written notice to the Co-op. Ownership will be considered voluntarily terminated if not kept current.
3.8: Ownership may be terminated involuntarily only for cause by the Board of Directors. “For cause” termination must be based upon seriously improper conduct that must include at least one of the following circumstances:
- A willful failure to deal fairly with the Co-op in connection with a matter that the Owner has a material conflict of interest;
- A violation of criminal law at or in connection with activities of the Co-op;
- A transaction with the Co-op from which the Owner derived an improper personal benefit;
- Willful misconduct or disruptive behavior that results in the Co-op serving a written notice of trespass to the Owner.
Person(s) who have had their Ownership terminated involuntarily may make an appeal in writing within 30 days of written notice of termination. Appeals may include a statement or other information in support of their request for reinstatement. Following receipt of appeal, the Board of Directors may, at their discretion, invite the person(s) to make their appeal in person. The Board of Directors may make decisions regarding reinstatement of Ownership in closed session.
3.9: Upon termination of Ownership, all rights and interests in the Co-op shall cease except for rights to redemption of their Owner equity share funds in accordance with these bylaws.
3.10: The balance existing in each Owner’s Owner equity share account is refunded upon termination of Ownership, within 90 days, subject to the Board of Directors determining when money is available for refunds and how much may safely be refunded each fiscal year.
3.11: Ownership rights and interests, including any Owner equity share balance, may not be sold, assigned or otherwise transferred in any way to another person or entity except as provided for by the Board of Directors.
3.12: The Board of Directors may establish other categories of patrons that may from time to time be extended certain Owner benefits, such as being able to make purchases at promotional Owner prices, without having purchased an Owner equity share, however these designations will not bestow any right to vote or to be elected to the Board.