The ownership interest hereby subscribed for is intended to confer the right to purchase consumer goods at owner prices and to participate in the governance of the Whitewater Grocery Cooperative (henceforth Whitewater Grocery Co.) in accordance with its bylaws to be approved at a meeting of Member-Owners. The individual who signs this agreement will be the primary contact (in a household ownership) and will have the voting rights in Whitewater Grocery Co.
Shares are entitled to no dividends or other monetary return on capital, will be nontransferable except to the Whitewater Grocer Co., will be redeemable only in accordance with the Bylaws, and will be subject to other terms and conditions of the Bylaws.
The capital funds remitted hereby are intended to be used for initial capital, start-up expenditures, future improvements, and other capital needs for the proposed store. All such capital funds are subject to the risks inherent in any start-up enterprise of this character and may result in the loss of part or all of such funds. Persons who cannot afford to incur such losses should not subscribe to purchase shares.
With your online payment, the new Owner-Member agrees to be bound by all the rules and obligations of ownership as set forth in the Articles of Incorporation and the Bylaws of the Whitewater Grocery Co.