Membership Application and Subscription Agreement
The undersigned, being an individual or family eligible for membership in MANNA Food Cooperative, a cooperative organized under Chapter 308A of the Minnesota Statutes (the “Cooperative”) hereby applies for membership and subscribes for one (1) share of Membership Common Stock for a purchase price of One Hundred Fifty Dollars ($150) .
This Membership Application and Subscription is subject to acceptance by the Cooperative and shall be fully effective on acceptance by the Cooperative. The undersigned acknowledges and agrees that:
1.The undersigned understands that the Cooperative is seeking to develop and operate a cooperative grocery in Detroit Lakes, Minnesota. The undersigned has had an opportunity to receive and review a copy of the Articles of Incorporation and Bylaws of the Cooperative and agrees to be bound by the Articles of lncorporaion and Bylaws of the Cooperative, as amended from time to time.
2. The undersigned certifies to the Cooperative that all purchases of products from the Cooperative by the undersigned or, if applicable, by Authorized Household Members, will be personal, living or family items for the undersigned.
3. If the undersigned’s membership application is accepted by the Cooperative, the undersigned authorizes the following members of the undersigned’s household (the “Authorized Household Members”), all of whom reside with the undersigned, to purchase products from the Cooperative on behalf of the undersigned.
4. Membership in the Cooperative, including the share of Membership Common Stock which represents and memorializes such membership, is not transferable, but may be refundable in the discretion of the Board of Directors, which retains the right to withhold membership refunds as provided in the Cooperative’s Articles of Incorporation and Bylaws. Including when necessary to protect the Cooperative’s financial viability.