Title 6 — Commerce and Trade
89 chapters · 627 sections in this title.
6 Del. C. § 1401. Definitions.
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§ 1401. Definitions. As used in this chapter, unless the context otherwise requires: (1) “Certificate of acceptance” means a certificate of acceptance filed in accordance with § 1407 of this title including, except where the context requires otherwise, any amendments thereto and …
6 Del. C. § 1402. Operating on a cooperative basis.
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§ 1402. Operating on a cooperative basis. (a) The organizational documents shall provide that the workers cooperative intends to operate on a cooperative basis and to comply with the requirements of this chapter. (b) A workers cooperative under this chapter may perform services f…
6 Del. C. § 1403. Members.
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§ 1403. Members. (a) The organizational documents shall establish qualifications and the method of acceptance and termination of members; provided however, that pursuant to the organizational documents, at least a majority of the members of a workers cooperative shall be employee…
6 Del. C. § 1404. Ownership of voting and nonvoting stock.
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§ 1404. Ownership of voting and nonvoting stock. (a) Except as otherwise provided in the organizational documents, all voting stock shall be owned by members; provided however, that pursuant to the organizational documents, at least a majority of each class of voting stock shall …
6 Del. C. § 1405. Voting rights of members and stockholders.
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§ 1405. Voting rights of members and stockholders. Pursuant to the organizational documents (or voting trust agreements), at least a majority of the board of directors shall be elected by the members on the basis of 1 member, 1 vote.70 Del. Laws, c. 395, § 1;
6 Del. C. § 1406. Allocation of earnings.
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§ 1406. Allocation of earnings. (a) The net earnings of a workers cooperative shall be allocated and distributed by the board of directors in accordance with the organizational documents. (b) Except as otherwise provided in the organizational documents, all of the net earnings of…
6 Del. C. § 1407. Certificate of acceptance; amendment; restatement; cancellation.
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§ 1407. Certificate of acceptance; amendment; restatement; cancellation. (a) In order for a corporation to constitute a workers cooperative, such corporation must execute a certificate of acceptance. The certificate of acceptance shall be filed in the office of the Secretary of S…
6 Del. C. § 1408. Execution of certificate.
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§ 1408. Execution of certificate. (a) Each certificate required by this chapter to be filed in the office of the Secretary of State shall be executed by an authorized officer of the workers cooperative. (b) Unless otherwise provided in the organizational documents, any person may…
6 Del. C. § 1409. Filing of certificate.
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§ 1409. Filing of certificate. (a) The certificate of acceptance and any certificates of amendment, correction or cancellation and of any restated certificate shall be delivered to the office of the Secretary of State for filing. A person who executes a certificate as an agent or…
6 Del. C. § 1410. Fees.
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§ 1410. Fees. (a) No document required to be filed under this chapter shall be effective until the applicable fee required by this section is paid. The following fees shall be paid to and collected by the Secretary of State for the use of this State: (1) Upon the receipt for fili…
6 Del. C. § 1411. Use of names regulated.
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§ 1411. Use of names regulated. Without limiting the applicability of § 102(a)(1) of Title 8, the name of each workers cooperative may, but need not, contain the words “cooperative,” “workers cooperative,” “worker owned cooperative,” “employees cooperative” or “employee owned coo…
6 Del. C. § 1412. Reserved power of state to amend or repeal chapter.
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§ 1412. Reserved power of state to amend or repeal chapter. All provisions of this chapter may be altered from time to time or repealed, and all rights of workers cooperatives, members, patrons and stockholders thereof and other persons are subject to this reservation.70 Del. Law…
6 Del. C. § 1413. Construction and application of chapter.
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§ 1413. Construction and application of chapter. (a) The rule that statutes in derogation of the common law are to be strictly construed shall have no application to this chapter. (b) It is the policy of this chapter to give maximum effect to the principle of freedom of contract …
6 Del. C. § 1414. Short title.
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§ 1414. Short title. This chapter may be cited as the “Delaware Workers Cooperative Act.”70 Del. Laws, c. 395, § 1;