Alabama § 10A-11-1.06 - Members; Membership Shares; Rights and Responsibilities.
Full text of Alabama Code of Alabama § 10A-11-1.06 — Members; Membership Shares; Rights and Responsibilities., with citation guidance and answers to common questions.
§ 10A-11-1.06. Members; Membership Shares; Rights and Responsibilities.
(a) The governing documents shall establish qualifications and the method of acceptance and termination of members. No person may be accepted as a member unless employed by the employee cooperative on a full-time or part-time basis. In order to qualify for membership, part-time employment shall be at least half-time.
(b) An employee cooperative shall issue a class of voting stock designated as “membership shares.” Each member shall own only one membership share, and only members may own such shares.
(c) Membership shares shall be issued for a fee as shall be determined by the directors. An employee cooperative may allow for payment of such fee by payroll deduction, installments, or similar methods. A membership share may be issued to a person upon acceptance for membership regardless of whether the membership fee is fully paid.
(d) Members of an employee cooperative shall have all the rights and responsibilities of stockholders of a corporation governed by the Alabama Business Corporation Law, except as otherwise provided in this chapter.
Source: official Alabama text · Last verified 2026-08-27
Frequently Asked Questions About Alabama § 10A-11-1.06
What does Code of Alabama § 10A-11-1.06 cover?
Section 10A-11-1.06 ("Members; Membership Shares; Rights and Responsibilities.") is part of the Code of Alabama, the codified statutory law of Alabama. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Alabama § 10A-11-1.06?
A common citation format is "Code of Alabama § 10A-11-1.06" (Alabama). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Alabama law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Alabama official source linked on this page or consult a licensed Alabama attorney.
How does Alabama § 10A-11-1.06 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Alabama can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Alabama.