December 1, 2016
On November 29 more than 50 founding shareholders of the “Fresh Start” cooperative took another step towards formally incorporating Geraldine’s new grocery business. Guided by steering committee member Corey Clark and MCDC staff, subscribers of voting stock unanimously adopted their bylaws and elected a five-member board from among eight nominated directors.
Clark explained how the adopted bylaws are an essential part of incorporation, “By adopting the bylaws, now we have a structure of governance for the business,” which includes “things like how dividends are returned, the board is elected, how many years they serve, how that rotation works; basically setting forth that we are following the state law as far as a cooperative goes.”
Those directors elected by written ballot were Corey Clark, Shaya Clark, Cody Joyce, Aaron Jones and Tricia Juedeman.