Do Owners have any financial liability before or after the store is opened?

No. Owners are not be liable for the debts of the cooperative, beyond the amount invested through your share.

To conduct its business effectively, a cooperative must exist as a legal entity separate from its members. Incorporation is necessary to achieve such status. The Whitewater Grocery Co. incorporated in March 2017. The articles of incorporation as well as our bylaws can be found on our website. 

Like other corporations, cooperatives obtain significant advantages from incorporation. The primary one is limited liability. Under incorporation, the personal liability of the individual owners for the co-op’s losses are limited to the amount of equity each member has invested in the co-op.