Define Policy: A program of action or a set of principles according to which the cooperative ’s business will be conducted. Does the policy meet the need? Violate members rights? Understandable? Compliant with Fair Housing?
New Board Member Training Alicia Osborne & Mary Thomas
“ Self-help, self-responsibility, democracy, equality, equity and solidarity. In the tradition of their founders, cooperative members believe in the ethical values of honesty, openness, social responsibility, and caring for others.”
Constitute the legal document that establishes the cooperative as a business organization subject to laws of the state in which it is chartered. They state the name under which the Co-op will operate and the purpose of the Corporation: to provide housing to its Members on a non for profit basis.
Written rules and regulations governing the operation of the co-op. They deal with Membership, meetings of members, the board of directors, officers of the corporation, rights of the regulatory agency, how by-laws shall be amended, and fiscal management of the Cooperative.