{"data":{"id":"us-ct/conn.-gen.-stat.-33-418i","jurisdiction":"us-ct","citation":"Conn. Gen. Stat. § 33-418i","heading":"Membership requirements. Membership shares. Rights of members.","body":"(a) The certificate of incorporation or bylaws of a worker cooperative shall establish qualifications and the method of acceptance and termination of members. No person may be accepted as a member unless such person is (1) employed by the worker cooperative on a full-time or part-time basis, or (2) a nonprofit organization, provided no less than fifty per cent of all employees shall be members.\n(b) A worker cooperative shall issue a class of voting stock designated as “membership shares”. Each member shall own only one such membership share, and only members may own such shares.\n(c) Membership shares shall be issued for a fee as shall be determined from time to time by the board of directors. Section 33-671 and subdivision (6) of subsection (b) of section 33-683 shall not apply to such membership shares. Sections 33-855 to 33-872, inclusive, shall not apply to membership shares whose redemption price is determined by reference to internal capital accounts, as defined in section 33-418m.\n(d) Members of a worker cooperative shall have all the rights and responsibilities of stockholders of a corporation formed under chapter 601, except as otherwise provided in this chapter.","path":["TITLE 33. CORPORATIONS","CHAPTER 599a. WORKER COOPERATIVE CORPORATIONS"],"source_url":"https://www.cga.ct.gov/current/pub/chap_599a.htm#sec_33-418i","current_through":"Revised to January 1, 2026 (2026 Supplement to the General Statutes of Connecticut, applied over the base revision of January 1, 2025)","vintage":"","retrieved_at":"2026-09-06T19:07:11Z","sha256":"b40993fd89a406a371cccbc63d54f5c0180f3a86348c81ea399ae2fccb6a0603","source_id":"us-ct","stale":false,"prev":"us-ct/conn.-gen.-stat.-33-418h","next":"us-ct/conn.-gen.-stat.-33-418j"},"notice":"GroundRules: Original legal text. Not legal advice."}