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Re: [Fenfire-dev] Fenfire Co-operative

From: Benja Fallenstein
Subject: Re: [Fenfire-dev] Fenfire Co-operative
Date: Sun, 23 May 2004 17:32:07 +0300
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Antti-Juhani Kaijanaho wrote:
| The usual translation for hallitus is the board.

Ok. Finlex uses "board of directors."

(Finlex -- www.finlex.fi -- has translations of many important laws,
including the Co-operatives Act that concerns us here.)

|>The nominal value of one share is 500 Euros. The share price
|>needs to be paid by the member in one part to the
|>co-operative's bank account within 30 days of the acceptance
|>of the membership application.
| Ouch!  That's prohibitively expensive for me (I don't know if you want
| me to join, but if the shares are that expensive, it's sure that i will
| not join).

We talked about this on IRC and Antti-Juhani suggested 50 or 100 Euros.
Any other opinions? What are the reasons for having a higher/lower share

| Is there some reason to restrict the taking of voluntary shares?  In
| cooperative tradition, the number of shares has no bearing in the number
| of votes a person has (one vote for one person).

Hm, one reason might be that someone with a large number of shares could
suddenly pull out and cause problems. But that's not a very strong
reason. Other ideas? Should we simply leave this out and allow an
unlimited number of voluntary shares?

Another point is if we distribute surplus to the members, it seems the
distribution should be according to the share held; if the co-op has
enough funds, it may not be nice to have somebody invest a large sum in
order to get half of the surplus for themselves. But that's a quite
theoretical scenario. Plus it leads us to the question whether we should
distribute surplus :)

| Who are involved in writing the bylaws, and what are their credentials?

We're basing this on a template by Pellervo. So far, contributions have
been made by Matti, me, and you. :-) I think that this should be a
community process, that's why we've posted here what we have so far.

- - Benja
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