Can businesses (specifically a single member LLC) purchase a membership in the co-op?

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  • Michelle Marie Engelman Berns
    commented 2020-04-23 09:30:37 -0700
    Hi Marcus. A resident of the state of California can purchase a Voting share as an Owner. Then as a Co-op Owner, a person who also owns a business can gift a share to employees, as long as they too reside within the state of California. LBGC has a wonderful business opportunity program called LocalUP, where we highlight, promote and work closely with Owners who also Own businesses. Because of Cooperative Law, voting shares can only be purchased by individuals. Businesses may, however, donate to the Co-op thru 3rd party Non-profits who then disperse the donation to the co-op after retaining a small nonprofit filing fee of anywhere from 5 to 10%. Hope this information helps! Michelle Engelman Berns, Board of Directors LBGC
  • Michelle Marie Engelman Berns
    tagged this with Good 2020-04-23 09:30:36 -0700
  • Marcus Hammond
    published this page in Suggestions 2020-03-07 19:55:33 -0800