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An AMA co-operative is an organisation owned by its members. Members will own their co-operative and its enterprise. Shares in an AMA co-operative can only be owned by members.
An entitlement of AMA co-operative membership includes access to co-operative land for motor vehicle use and associated activities, as well as admission to selected events at member prices.
Additionally, if an AMA co-operative is successful and makes a sufficient trading surplus, members may receive a dividend on their share capital, subject to the Board declaring any dividends.
Each AMA co-operative must operate according to the co-operatives rules, which explains fully, the costs, benefits and responsibilities of membership.
Any individual, partnership, company, co-operative or other entity may apply for membership in an AMA co-operative by completing an online application form.
To qualify for membership, an applicant must maintain active membership of the co-operative and agree to be bound by the rules.
The annual subscription to an AMA co-operative starts at $250 and is determined by the board from time to time.
There is a once off $50.00 entrance fee, which is payable to become a member of an AMA co-operative.
AMA co-operatives are democratically run, member focused organisations. Each member has one vote in how the co-operative is managed, and in making the big decisions for the co-operative.
The day to day management of the co-operative is covered by the Board of Directors. The majority of the Directors of an AMA co-operative must also be members, so their interests will be the same as the interests of all members.
Members vote at the Annual General Meeting and at any other general meeting of the co-operative called to make important decisions such as electing Directors or changing the Rules.
To establish and maintain active membership of an AMA co-operative a member must either subscribe to the AMA co-operatives newsletter or electronic copy of communication and attend at least one General Meeting, member or community event per calendar year or purchase a good or service supplied by the co-operative during a calendar year.
You can lose your membership if you don’t support the co-operative under the requirements for active membership in the rules. Co-operatives only work by serving the needs or wants of their members who, in turn, satisfy those needs or wants by acquiring them from the co-operative.
If you do not pay the annual subscription to establish and maintain active membership of the co-operative, your membership will be considered inactive and the Board of the co-operative will be required under the law to cancel your membership.
AMA co-operatives are distributing, which means they have share capital and members must hold at least the minimum shareholding specified in the rules.
A distributing co-operative may distribute to members a part of the surplus generated in a year by way of:
The Co-operatives National Law requires each distributing co-operative to produce a disclosure statement.
Investor Shares are issued to members with the primary purpose of funding the acquisition of land.
No single member can own more than 20% of the share capital in any AMA distributing co-operative.
Subject to the consent of the board, shares can be transferred to other members or repurchased by the co-operative.