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All types of corporations, including co-operatives, must have a constitution. This is a set of rules and processes for the internal running of the corporation. Legislation for co-operatives refers to the constitution as the “Rules”.
The rules for each co-operative must describe the main activities that the co-operative will undertake, and how each member commits to support the co-operative’s activities. The rules also provide processes for voting, holding meetings, electing the directors and reporting to members.
The rules and any disclosure statement must be approved by the registrar of co-operatives in the state or territory that you plan to have your main office or place of business.
The Co-op Builder is a FREE step-by-step tool to help groups prepare the rules and disclosure statement for any type of co-operative in any industry. It provides plain English information about how the rules work and how to draft components of your disclosure statement.