Member-owner Terms & Conditions
• I am applying for a one-time purchase of membership in the East Aurora Cooperative Market under the conditions and policies stated in the Articles of Incorporation and bylaws of the East Aurora Cooperative Market. Those documents may change from time to time by action of the membership or the board of directors.
• I understand that a member-owner share must be in the name of one individual only. The legal member-owner of record will receive all official co-op mailings, is the official voting member-owner in all co-op elections, and receives any and all monies potentially disbursed, including patronage dividends and a refund of equity.
• I understand that other persons living in my household may use my membership card to shop at the East Aurora Cooperative Market, but this does not confer membership upon them.
• I certify that I am at least 18 years of age.
• I understand my membership is not transferable.
• I understand that I may resign this membership after one year of profitability is achieved, as stated in the bylaws of the cooperative and that any membership account refund will be sent to me only, with board approval.
• I understand that this application for member-ownership is subject to the approval of the board of directors.
• I understand that full rights of membership (voting rights and eligibility for patronage dividend) are granted upon full payment. Payment is to be completed within 8 months of the date of record. If payment is not complete at that time, my membership will become inactive and my rights and privileges of ownership will be suspended until full payment is made.
• I acknowledge that I will receive a copy of the bylaws of the cooperative including Article 9.3 which provides information regarding IRS tax treatment of dividends.
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