Fill Out The Friendly City Food Co-Op Ownership Application Form Online
When you become an owner, you become part of a greater whole. As a Friendly City Food Co-op owner, you’ll see the value in the special discounts, rewards, and perks you receive, but the real value lies in the knowledge that you are supporting local farmers who grow your food. You are also supporting the co-op’s values for sustainability and food accessibility for all.
As an owner, you purchase a share of stock in the cooperative. Currently, we have 2,700 shares sold. This gives you governance rights, including the right to vote in Board of Directors elections – one share of stock equals one vote – and the right to run for a seat on the Board.
Fill out the owner application online (below) and submit it, along with your PayPal payment, directly through the website.
Important Notes: Please read the full document carefully. No voting rights are obtained until payments have been completed. All members (share owners) must be residents of Virginia. After we receive your paperwork, we will sign the document and send you a receipt. We retain the original document. As a new member, you will be kept up to date on progress of the cooperative and notified of member meetings and important information. Attendance at the annual member meeting is not required, but encouraged as we must have a quorum of members to be able to hold meetings.
New Owner Application
Friendly City Food Co-op Share Purchase Agreement
As an owner (“member”) of Friendly City Food Co-op, I agree to and understand the following terms:
• I agree to buy one Class A (voting) share for a total share investment of $200.
• The first signer (the same person named on the first page) is the only legal member and retains the
voting right as well as any benefit potentially disbursed, including patronage rebates and equity
refunds, as well as any tax or similar benefits.
• This application is subject to approval by the board of directors of the co-op, and ownership is subject
to the co-op’s articles of incorporation, bylaws and share agreement terms listed on this page.
• The share is 100% at risk for this business venture; there is no guarantee you will receive back all or any
portion of this investment.
• Only the additional persons (named on the first page) in my household may use my owner account
number.
• All members (share owners) must be residents of Virginia; no one outside of the Commonwealth of
Virginia is permitted to become a member. A corporation, partnership, trust or other form of business
organization purchasing shares must also be organized under the laws of the Commonwealth of
Virginia and have its principal office in Virginia.
• The share represented by this agreement may be transferred only to the cooperative or to a person or
persons designated or approved by the board of directors of the cooperative in its sole discretion, at its
par value.
• This agreement will not terminate pursuant to the articles of incorporation or bylaws of the cooperative.
If I resign from the co-op or my ownership is ended for any reason, the co-op may refund my paid
owner equity as provided in the bylaws.
• I understand that my membership and any unclaimed patronage rebate will be considered abandoned
if: I do not make a purchase from the co-op in over a 3-year period, I do not provide a current address
for over 3 years, or request a refund of my owner equity in either of those 3-year periods.
Download the Friendly City Food Co-Op Ownership Application
If you prefer to fill out a printed application, just click the button below to download and print. You’ll bring your filled out application, with payment, into the store during regular business hours.
