As part of preparation for the upcoming store renovation, the Board of Directors is working to update various legal documents. Among those needing update is the Articles of Incorporation, which when originally filed in 1979, provided for the number of authorized member shares to be 1,000.
Each person who joins the Belfast Community Co-op as a member is considered to have a member share. Of course, there are now far more than 1,000 Co-op members, and the Board is seeking a vote of the members to increase the number of member shares authorized by the Articles of Incorporation to 20,000.
This will not only catch the Co-op up to the current active membership of about 4,800, but will provide room for ample future growth.
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