Article I: Name and Purpose
Section 1.1 – Name:
This organization shall be known as 24 Karat Bakery Cooperative, hereafter referred to as “the Cooperative.”
Section 1.2 – Purpose:
The purpose of the Cooperative is to:
Provide meaningful employment and shared ownership for workers;
Provide high-quality, globally inspired baked goods to consumers;
Promote sustainable food practices and community engagement;
Operate under cooperative values and democratic governance.
Article II: Membership
Section 2.1 – Classes of Membership:
The Cooperative shall have two member classes:
Worker-Members – Individuals employed by 24 Karat Bakery who meet membership criteria.
Consumer-Members – Individuals who support and regularly purchase from the bakery.
Section 2.2 – Eligibility:
Worker-Members: Must complete a probationary period (e.g., 3–6 months), support the Cooperative’s mission, and purchase one worker share.
Consumer-Members: Must be a regular customer, support the Cooperative’s mission, and purchase one consumer share.
Section 2.3 – Rights and Responsibilities:
All members shall:
Uphold cooperative values and participate in decision-making;
Receive access to co-op information, reports, and member benefits;
Be eligible for patronage refunds:
Worker-members: based on labor hours;
Consumer-members: based on annual purchases.
Section 2.4 – Termination of Membership:
Membership may end due to:
Voluntary withdrawal;
Violation of Cooperative policies;
Inactivity (consumer-members);
End of employment (worker-members).
Article III: Membership Shares and Capital
Section 3.1 – Membership Share Requirements:
Worker-Members: $1000 per share (refundable upon exit);
Consumer-Members: $200 per share (refundable upon exit).
Section 3.2 – Use of Surplus:
Surplus funds shall be used in this order:
Reserve and operating expenses;
Reinvestment in 24 Karat Bakery;
Patronage refunds:
Worker-members: based on labor hours;
Consumer-members: based on annual purchases.
Article IV: Governance
Section 4.1 – Board of Directors:
The Board shall include representatives from both member classes:
Total Seats: 7
Worker-Member Seats: 4
Consumer-Member Seats: 3
Section 4.2 – Board Responsibilities:
Strategic planning and financial oversight;
Hiring and managing staff leadership (if any);
Upholding cooperative principles.
Section 4.3 – Elections & Terms:
Board members are elected by their member class.
Terms are staggered and last [2–3 years].
Article V: Member Meetings
Section 5.1 – Annual General Meeting (AGM):
Held once per year to:
Elect directors;
Review financials and reports;
Make major decisions.
Section 5.2 – Special Meetings:
May be called by the Board or 10% of either class of members.
Section 5.3 – Quorum:
A quorum requires 51% of each class to be present.
Article VI: Member Benefits
Section 6.1 – Worker-Member Benefits:
Worker-members are entitled to:
A living wage and profit-sharing via patronage refunds;
Participation in workplace decision-making and policy development;
Access to cooperative training and skill-building opportunities;
Discounts on bakery products;
Voting power in both daily operations and long-term strategic decisions.
Section 6.2 – Consumer-Member Benefits:
Consumer-members are entitled to:
Discounts or specials on selected bakery products;
Access to members-only events (e.g., baking workshops, tastings, seasonal previews);
Patronage refunds based on annual spending;
Voting rights on major cooperative decisions and consumer board elections;
Opportunities to participate in feedback forums and product development input.
Section 6.3 – Shared Benefits:
All members are:
Recognized as co-owners of 24 Karat Bakery;
Eligible to run for and vote in governance roles within their class;
Invited to co-op-wide celebrations and member appreciation events.
Article VII: Committees
The Cooperative may form committees as needed, such as:
Finance
Product Innovation
Outreach & Education
Marketing
Article VIII: Fiscal Year
The fiscal year of 24 Karat Bakery Cooperative shall begin on February 1 and end on January 31 of the following year.
Article IX: Amendments
Bylaws may be amended by:
A 2/3 vote of the membership, with a simple majority from each class;
Proper notice must be given at least 14 days before voting.
Article X: Dissolution
Upon dissolution:
All debts shall be settled;
Remaining assets will be distributed in this order:
Repayment of member shares;
Donations to another cooperative or aligned community initiative.