When you sign the membership agreement, you agree to the terms set forth by the Cooperative. Please note the terms of membership may be further defined and revised as the Cooperative develops and our needs evolve.
By signing this Member Agreement, I am applying for membership in the Nashville Food Cooperative (Cooperative). My member equity will be used for the development, operation, and potential expansion of the Cooperative.
Members have one vote in the affairs of the Cooperative. Members have the right to elect the Cooperative’s Board, to attend meetings of the Board, to receive notice of and attend membership meetings, to petition, and to approve amendments.
Once the store is open, the Board may elect to give patronage earnings to its members. The giving of these earnings is completely discretionary. Only fully paid Members are entitled to patronage earnings. Members are allocated patronage earnings based on the member’s business with the Cooperative. Members shall have their own capital accounts within the Cooperative.
Member Interests are $250.00 per household. This is a one-time fee. Member Interests are not transferable. Investing in a start-up business carries with it inherent risk. Member Interests are subordinate to all other debts of the Cooperative.
The goal of the Cooperative is to be a business serving the needs of its community. As such, it strives to be accessible to every member of the community. I understand that there is a payment plan option, and if I choose this option, I understand that I will not have the full rights of Membership until the Member Interest is paid in full.
By becoming a member, I understand that I am committing to adhere to the bylaws and policies of the Nashville Food Cooperative. I understand that investing in a start-up business carries with it inherent risk, which may result in loss of part or all of my Member Interest. I am of legal age and able to enter into a contract in the State of Tennessee.