Surrey Business Services and Training Co-Op
2015-2016 Memorandum of Association (MOA)
This Memorandum of Association (MOA) includes basic information about the co-op, its purpose, its share structure and membership requirements.
The Surrey Business Services and Training Co-op (name registered on December 11, 2014 incorporation document APPROVED February 5th, 2015) is a cooperative group of self-employed individuals, businesses and community organizations working in Surrey, whose members collaborate through co-op membership.
Purpose of this MOA: This document will clarify the roles, obligations and commitment of the members.
A new member must purchase a minimum of 1 share to be approved. At the time of agreement a new member must agree to and sign and approve this MOA, as it applies to:
SURREY BUSINESS SERVICES AND TRAINING CO-OP
13588 88TH AVE, UNIT #205, SURREY BC V3W 3K8
Membership in this co-op is by share purchase only. General membership is a $100.00 one time share purchase per registered business, voting member;
OR, one- time $50.00 annual fee for Associate non-voting member which includes: nonprofit societies, government, business organizations and/ or service clubs.
AND, Founding investment share members: original three members: Anter Pama, Mary Pichette, Susan Keeping.
Any investment of general members share over $201 must be approved by the Founding Members. Any one investor may purchase to a maximum of 250 shares. Investment shares are non-transferable and for the purpose of this agreement cannot be redeemed.
The Co-op will be governed by the founding members until the first AGM in which a board of directors (3 Founding members and 2 general members) will be voted in by the membership.
Founding Members are investment members. Founding Members are permanent board of director members and the members at each AGM must elect a minimum of two general members and a maximum of three general members every two years.
Co-op board meetings will be held a minimum of three times a year with Annual General Meetings to take place every two years. Quorum for general meetings (number of members required to make a meeting valid) will be five members made up of three founding members and two general members.
Each month members will pay a fee based on their space usage.
The rights of a member of the co-op are
- Access space in the co-op on a rental basis and,
- Participate in programs offered in the co-op
The obligations of membership are
- Paying the monthly costs for space
- Following the rules for shared use of space (i.e. clean office, leaving out food and coffee, noise etc.)
The process of becoming a member is:
- Apply for membership on the recommendation of one of the current Founding members; or fellow co-op member.
- Paying a membership fee (purchasing a membership share) and agreeing to a rental agreement that outlines the monthly costs or, rental agreement as it relates to regular rental of meeting room space.
- Agreeing to abide by the guidelines for the use of space as defined in the rental agreement and set by the Board, to ensure that everyone gets along with each other
How the co-op is run and how the space is managed
- The members of the co-op choose a Board of Directors who manage the day-to-day affairs of the co-op. This is a voluntary role – members don’t have to be on the Board.
- The Board will be mostly made of investor members (Susan, Anter, Mary, plus additional investors)
- The Board ensures that the space is properly run, including the details like cleaning, repairs, internet maintenance and general administration etc. They may hire people to do this work if they determine it’s necessary.
What are the “rules” as they apply to members? How are they communicated to the members?
As policy and rules are developed they will be communicated to co-op members through memorandums in the first two years (24 months from July 1, 2015) and in this manner policy will be developed to go before the membership for formal approval and installation at any and all Annual General Meetings held on/before November 1, 2017.
What happens if a member breaks the rules or doesn’t pay their cost-share?
- A member who fails to pay rent as due on the first of the month, will be evicted according to the Legislation governing Landlord and Business tenancy; which states “locks to a business office may be changed, if rent is late by more than 40 days”.
- The Board may terminate a membership if it decides that the member has not followed the rules; However, a member must be given two notices of warning before a membership can be terminated in the event co-op rules are broken.
- A member will be immediately terminated for behaving violently, no matter the reason. Violence includes, hitting, pushing or shoving another person. While every member is expected to be respectful of all other members at all times, swearing at, or name calling of any individual will not be considered an act of violence, but it will result in a warning of termination.
Business: $100.00 per share
Non-Profit Agencies, Business Associations and Service Clubs $50.00 (can only purchase one share)
As the Surrey Business Services and Training co-op is a “for profit” co-op you will receive a dividend based on net profit, at such time as the co-op generates profit. Net profit is calculated on year-end balance sheet and this sheet is published for co-op members in April of each year. Year end is December 31. The dividends are based on the number of shares a business owner holds in the co-op. Shares can be purchased to a maximum of $5000.00 per business.
Benefits of being a Co-op Member
- $60.00 Savings when you become a Surrey Board of Trade member.
- 10% reduction in room rentals for training. (This is in addition to the 10% savings available if you book 8 sessions ahead.)
- Your business will be hosted on the Surry Business Centre website, with a photo and an embedded link to your business site. (if you have a site).
- Access to joint ventures in social media advertising and flyer distribution.
- Co-op members share in percentage reduction on cost of services:
- 20% savings for computer repair, monitoring, cloud backup, web-site development and SEO with Integrity Technical Support.
- 1 personal or family counselling assessment (45 minutes) at no charge. 10% reduction in all counselling/consultation sessions from Intercessor Consulting.
- One time free consultation with Bear Creek Law LLP
- Monthly opportunity to offer educational seminars to public for reduced cost of only $30.00. ($50.00 for non-members). These weekends will be opportunity’s to raise your profile. And offer your services to local Surrey residents.
- You may withdraw your membership at any time. There is no pro-rated dividend given in the event of membership withdrawal and PROVIDED there is a dividend to be given.
Responsibilities of being a co-op member
- Share in promoting the co-op. Be kind to your neighbor and encourage them in their own efforts to be successful
- Help fellow co-op members to promote their businesses and they will help you promote your services.
- Although weekly janitorial services are supplied for common areas, assist in keeping building clean by keeping office clean and food free! ALL leftover food will be thrown in the garbage on Friday afternoon.
Do not store personal food in the fridge, other than daily lunches. When you host a meal– ALL food must be removed. Do not put into the fridge expecting others to use it. IF you have extra food and you want to have co-op members use it – make a point of inviting them to take food or beverages from the fridge.
Co-op members will respect that the shared office space is a space designed to conduct business and as such each business is asked to respect the need for quiet and to keep business conversations confined to your personal office space.
Co-op members will respect that the training spaces are intended to serve a variety of purposes beyond those conducted in the spaces assigned for office use. As such the seminar, group and classrooms are separated from the office space by a separate doorway. Training classes and seminar use are not confined to noise restrictions as office spaces. The co-op respects that “training” by its nature will have people/students coming and going and a variety of different needs being met by the space being shared by all members.
In the event a co-op member is concerned about co-op operations he/she will bring such a concern directly to a board member and will NOT under any circumstances initiate or participate in unwarranted “gossip” or “rumor mongering”. When a member perceives a problem, he/she is also asked to bring a possible solution(s) to the board member when raising the concern.
Have applied to become a member of the Surrey Business Centre and Training Co-op.
I have purchased a one-time membership share in the amount of $______________.
I understand that my membership share will be returned to me at such time as I, or the company/agency represent, no longer does business with Surrey Business Centre and Training Co-op.
I understand in the event I have purchased “investment shares”, beyond my one share purchase, these shares cannot be redeemed.
I hereby agree to abide by co-op standards, inform myself of the benefits of being a co-op member, inform myself of co-op rules and responsibilities, and conduct myself with respect for others.
Name (Print) Signature
Recommended by: ___________________________________________