Members Area

Articles of Incorporation



This section covers our articles of incorporation.

The name of the Cooperative is Davidson Creek Housing Cooperative Ltd.

The registered office of the Cooperative shall be situated in the Hamlet of Sherwood Park in the Province of Alberta.

The number of Directors who shall direct and supervise the concerns of the Cooperative shall be not less than eight (8) nor greater than ten (10) as shall from time to time be determined by the membership of the Cooperative.

The objectives for which the Cooperative is formed are

 

1. to provide on a cooperative basis, affordable and quality housing as well as supporting services and facilities-to persons, the majority of whom are members of the Cooperative;

 

2. to create and encourage in each Member a viewpoint of cooperative ownership which implies a sense of pride and responsibility not only towards their individual unit and private space but also to the common structures and property;

 

3. to develop on a cooperative basis a community environment which will support human development and growth both as individuals and as members of a responsible community;

 

4. to provide members with an opportunity to maintain control over their living environment, .through democratic participation all aspects of their housing, including services and facilities;

 

5. to build, construct, operate and maintain, buy, sell, manage and own buildings for residential use by the members of the Cooperative and their families;

 

6. to enter into contracts for the lease or purchase of housing accommodation and ancillary buildings, property and equipment;

 

7. to operate according to and promote the Cooperative Principles as adopted by the International Cooperative Alliance.

 

8. to create an integrated community by striving to maintain 35% of the units occupied by persons who are single parents and 10% of the units occupied by persons who are physically and/or mentally handicapped.

 

1. The Cooperative is a non-profit continuing housing cooperative subject to the Cooperatives Act of Alberta;

 

2. The cooperative is to provide self contained housing or housing-related facilities and ancillary services and facilities to individuals the majority of whom

 

a. are members of the Cooperative;

 

b. are ordinarily resident in the housing units, and

 

c. occupy the housing units otherwise than individual owners.

 

The business of the Cooperative shall be conducted without the purpose of gain for its members in the following manner:
1. membership Shares shall be par value and no dividend or interest shall be paid upon membership Shares;

 

2. any profits or accretions accruing to the Cooperative shall be used for the purpose of promoting its objectives;

 

3. upon termination of membership in the Cooperative for any reason, the Cooperative shall, subject to the provisions of the Cooperatives Act and the ByLaws, purchase at par value all Shares of the Cooperative held by the terminating member;

 

4. subject to clause 5, upon winding up or dissolution of the Cooperative, after the payment of all its debts and liabilities the remaining property of the non-profit housing Cooperative is to be transferred to, or distributed among one or more nonprofit housing Cooperatives, non-profit organizations or charitable organizations;

 

5. the Cooperative must not distribute any of its property or pay any money to its members except;

 

a. amounts owed to a members, including Share capital

 

b. reasonable amounts for goods and services provided by a member;

 

6. the Cooperative may not amend its articles to change from a non-profit housing Cooperative to any other type of Cooperative or corporation, except as provided in the Cooperatives Act of Alberta;

 

7. the Cooperative will use any surplus arising from its operations in a financial year for the purpose of promoting its objectives and will not pay patronage dividends.

 

1. Membership in the Cooperative will be based on Membership Shares. Regardless of the number of Membership Shares a Member owns, the Member shall have one vote.

 

2. Membership shall be open to persons who are able to use the services of the Cooperative and are willing to accept the responsibilities of and abide by the terms of membership.

 

3. Membership in the Cooperative shall not be restricted to any person by virtue of his/her race, religious belief, sex, sexual orientation, economic status, marital status, nationality, ancestry, or place of origin.

 

4. Subject to the laws of general application as to discrimination the Co-operative may refuse membership on such grounds as it may determine.

The Cooperative will be organized and operated on a co-operative basis.

The Cooperative is to be incorporated with membership Share capital. Class A membership Shares shall have a nominal par value of twenty five ($25.00) dollars each;

 

1. the number of Class A membership Shares to be issued shall be unlimited;

 

2. membership in the Cooperative shall be based upon membership Shares. Regardless of the number of Class A membership Shares a Member owns, the Member shall have one vote.

The owner of a membership Share in the Cooperative shall dispose of that Share only to the Cooperative and only for a price equal to the amount paid for the Share on its purchase by the owner.

The Co-operative does not have investment Share capital at the present time.

1. The members at a General Meeting of the Cooperative may prescribe general policies regarding the governance, administration, management and maintenance of the Cooperative and the property of the Cooperative.

 

2. The Board of Directors is responsible to the membership for the implementation of general Policies and for the approval of procedures. The Board of Directors has no authority to prescribe general Policies.

 

3. The Board of Directors shall direct and supervise the day to day operations of the Cooperative, and may exercise all such powers of the Cooperative as are not required to be exercised by the Cooperative in a general meeting. The Board of Directors has no power to amend or change any Articles or Bylaws. Without limiting the generality of the foregoing; the Board.shall have the power to:

 

a. negotiate and execute contracts not exceeding $5000.00 and other business in the interest and on behalf of the Co-operative;

 

b. approve and reject memberships;

 

c. terminate memberships on matters for which there is no appeal and initiate membership termination on matters forwhich there is an appeal in accordance with the Cooperative’s bylaws;

 

d. borrow, provided that such borrowing does not exceed 6 month’s regular revenue;

 

e. set the annual budget and resulting housing charges in accordance with the Bylaws if the membership cannot or will not approve a budget and resulting housing charge;

 

f. make other managerial decisions as may prove advisable, having regard for such Member consultation as may be practical and reasonable in the circumstances.

 

4. Officers and Directors of the Cooperative shall not receive any payment or benefit for services provided as Officers or Directors, but may receive a payment or benefit for services provided other than in their capacity as Officers or Directors for which the cooperative might reasonably make or provide such payment or benefit

 

5. The Board shall also promptly make its minutes available to the membership.

Notwithstanding s389(1)(e) of the act, or any other provision in the Act, the Cooperative may not allocate among. or credit and pay to, the members, all or any part of the surplus arising from the operation of the Cooperative in a financial year, whether as a patronage return or otherwise.

A motion to wind up the Co-operative shall only be effective if passed 90 % of all members of the Co-operative.

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