Patchwork Owner Agreement

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I agree to support Patchwork Alliance Cooperative Online Market as a member-owner under the conditions and policies stated in the Bylaws of the organization.  I understand these policies may change from time to time by action of the member-owners or the Board of Directors.

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I understand that...

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·  Ownership can be assigned to one individual only; that name is printed on the Membership Certificate and the account will be held under that name. The one named on the account is the voting member and is the person eligible to serve on the Board of Directors and committees of the Board.

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·  Other persons living in my household may use my ownership account to shop the Patchwork Alliance online marketplace, but I recognize that the owner alone earns the privileges of voting and patronage dividends.

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·  My ownership is not transferable, except as provided by rules adopted by the Board of Directors.

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·  All equity payments to my ownership account remain my sole property.

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·  My ownership shall terminate automatically upon my death and at that time, the balance in my ownership account shall automatically become a donation to Patchwork Alliance Cooperative Online Market.

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·  I may resign this ownership at any time as outlined under section 2.8 of the Bylaws, and understand that my equity paid to date will be returned to me directed via U.S. Mail. (Pursuant to Board review based on the financial health of the Co-op at that time)

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·  The Owner Card is required to obtain member-only discounts

 

As a member-owner, I agree to uphold and abide by the Patchwork Alliance Mission and Values, as well as the organization’s Bylaws and governance documents.