Membership Agreement for South Como Investment Cooperative

JavaScript isn't enabled in your browser, so this file can't be opened. Enable and reload.

Email *

Name (First, Middle Initial, Last) *

Phone *

Full Address (Number and Street, City, State, Zip) *

All South Como Investment Cooperative member communications will be via email, unless otherwise requested.

The Co-Op has my permission to include my name in its online or print listing of the Co-Op members:

Yes

I am a resident of Minnesota, am 18 years old or older, and support the goals and purposes of South Como Investment Cooperative . I agree that I have access to the current Articles of Organization and Bylaws of the Co-Op and that all provisions of those documents are incorporated as part of this member agreement. By signing this application, I agree that I understand there is a risk to investing in the Co-Op and in investing in real estate, and that I should not invest money that I cannot afford to lose.

I acknowledge that the above statement is true.

As a Member of the South Como Investment Cooperative , I understand that:
*

I am purchasing a Member Share in the South Como Investment Cooperative (the Co-Op) for the price of $500, which entitles me to a vote on all member matters and all other benefits of membership as defined by the Articles of Organization, the Bylaws, and policies adopted by the Board of Directors, as long as I am a member.

A Member Share entitles me to only one vote, no matter how many shares of stock I own in the Co-Op. All members are equal co-owners of the Co-Op.

Under the Co-Op’s bylaws, members are entitled to attend Board of Directors meetings and participate in discussions about projects and project planning. Member input and engagement are valuable and important parts of the process, but the Board of Directors is authorized to make final decisions about investments.

The success of the Co-Op depends on member participation and active engagement in the life of the Cooperative. Member participation includes activities such as serving on committees or on the Board of Directors, attending member meetings, voting in elections, reading newsletters and other communications from the Co-Op.

I agree that I will keep my address and contact information current with the Co-Op.

My membership investment is in the nature of patient capital and will be used by the Co-Op to invest in commercial and/or residential property in the area. Because the Co-Op’s assets will be tied to real estate, its ability to redeem member shares and pay patronage dividends will depend on the real estate market, prevailing rental rates and/or market prices, and the capital needs of properties in which the Cooperative is invested. For these reasons, my membership should be considered a long-term investment.

Upon notice in writing, I may request to terminate my membership and sell my member share (less any outstanding obligations) back to the Co-Op. The Board of Directors will handle requests to redeem member shares according to the bylaws and the Board’s stated policies. Repayment of my share purchase price will not occur until the Co-Op is financially able to do so, as defined by the Board of Directors in its discretion.

Membership will be terminated on the death of an individual member or if an institutional member ceases to exist. Membership may be terminated for cause as defined in the Bylaws, at the discretion of the Board of Directors.

I understand that the Co-Op may deposit and hold my membership check pending final approval and acceptance of this membership agreement. If the agreement is not approved, the share purchase price will be refunded to me in its entirety.

I understand that I may request cancellation of this agreement and a refund of my membership share anytime during the first fourteen days after the date of my signature below.

Required

Please send me an application for a full or partial Membership Scholarship if funding is available. *

Yes

Demographic Information

The following demographic questions are optional. Knowing our members helps us better serve them as well as opens up various opportunities for grants and other assistance from various public and private sources.

Gender

Female

Male

Transgender

Nonbinary

Prefer not to say

Other:

Clear selection

Age

Under 18

18-24 years old

25-34 years old

35-44 years old

45-54 years old

55-64 years old

65+ years old

Clear selection

Ethnicity

White/Caucasian

Asian

Native Hawaiian or Pacific Islander

Hispanic or Latino

African-American

Native American

Two or more

Unknown

Prefer not to say

Other:

Annual Household Income

$0-$29,999

$30,000-$59,999

$60,000-$89,999

$90,000-$119,999

$120,000+

Prefer not to say

Clear selection

Typing your name here will serve as your signature:
*

Beneficiary Information

You have the option to designate one or more beneficiaries to receive your shares in the event of your death. If you wish to designate a beneficiary, please provide their name(s) and contact information below. If you designate more than one beneficiary, please indicate the percentage of shares that each should receive. You may update your beneficiary at any time by sending a request to treasurer@southcomocoop.org

Beneficiary Name

Beneficiary Address

Beneficiary Phone
*

Beneficiary Email
*

A copy of your responses will be emailed to the address you provided.

Submit

Clear form

Never submit passwords through Google Forms.

reCAPTCHA

Privacy Terms

This form was created inside of southcomocoop.org.

Does this form look suspicious? Report

Forms