The Pros and Cons of Limited Cooperative Association and Traditional State Cooperative Statutes
Date: Tuesday, June 6, 2023Time: 11:00 AM ET / 10:00 AM CT / 09:00 AM MT / 08:00 AM PT [Prevailing Time]
Presenters: Thomas Beckett, JD, MBA, Executive Director, of Carolina Common Enterprise, Jason Wiener, JD, President, Jason Wiener P.C.
Moderator: Meegan Moriarty, Senior Legal Policy Analyst, USDA Rural Business-Cooperative Service
Learning Objectives:
1. Attendees will learn the advantages and disadvantages of traditional cooperative statutes.
2. Attendees will learn the advantages and disadvantages of limited cooperative association statutes.
3. Attendees will understand how to avoid the pitfalls of each type of statute.
Field of Study: Business Law
Program Level: Basic
CPE Credit: 1 Credit Hour
Delivery Method: Group Internet-based
Prerequisite(s): No advanced preparation or prerequisites are required for this course.
Members should visit the Recordings Catalogue to view all available recordings for free and on-demand. Join NSAC today to enjoy this benefit.
Course Description
In this insightful webinar, join us as Thomas Beckett, JD, MBA of Carolina Common Enterprise, and Jason Wiener, JD of Jason Wiener P.C., delve into the intricacies of cooperative statutes and shed light on the advantages and drawbacks of two key models: the traditional cooperative statute and the Limited Cooperative Association (LCA) statute.
Traditional state cooperative statutes vary greatly in scope and structure between states. They typically include accepted elements of cooperative practice including member patronage, democratic control, member benefit, and limitations on dividends to investors, but can be somewhat rigid and limiting.
Limited Cooperative Association statutes offer a more uniform approach that includes these elements and is more easily structured to give some control, benefit, and return on investment to investors. LCA statutes can facilitate creative financing for cooperatives.
Our esteemed presenters will discuss the pros and cons of each model and how they can impact cooperative enterprises.
By attending this webinar, you will:
- Learn the advantages and disadvantages of traditional cooperative statutes.
- Learn the advantages and disadvantages of limited cooperative association statutes.
- Understand how to avoid the pitfalls of each type of statute
Join us for this thought-provoking webinar and equip yourself with the knowledge and insights needed to navigate the complex landscape of cooperative statutes.
Presenter and Moderator Bios
Presenter: Thomas Beckett, JD, MBA, Executive Director, of Carolina Common Enterprise
Thomas Beckett has been a co-op member for most of his life but really became focused on cooperative development during the banking collapse of 2007-08. At that time, he was practicing small business law in Western North Carolina and had taken on incorporating some immigrant worker co-ops as a pro bono project. As the financial crisis unfolded, the need to redesign the economy at a local and human scale became clear. The cooperative business model is just that.
Education and Training
- Duke University – B.A. in Public Policy
- University of North Carolina School of Law – Juris Doctor
- UNC Kenan-Flagler Business School – MBA
- CooperationWorks – cooperative business development training
- Kauffman Foundation – entrepreneurial development training
Thomas sits on the board of directors of a few co-op organizations, including Shared Capital Cooperative and the Weaver Community Housing Associations. Thomas takes up opportunities to volunteer in the community with his family.
Presenter: Jason Wiener, JD, President, Jason Wiener P.C.
Jason Wiener enjoys the challenge of creatively designing legal and business solutions to persistent social and environmental challenges. Jason comes to this work with a wide range of experience as an entrepreneur, litigator, activist, organizer, and worker-owner. With more than a dozen years of experience as an attorney – including several years in BigLaw litigation, and as a labor lawyer – Jason’s range of expertise and experience brings an innovative approach to solving client issues. Jason has walked in the shoes of his clients, as a social entrepreneur in his own right, on the board of non-profits, cooperatives, and corporations. Jason has served on executive strategy, human resources, finance and other management-level teams. Jason has been a thought, do and practice leader in the cooperative, employee ownership, impact finance and capital, and teal lawyering movements. Jason’s client work and public speaking have charted a new and grander course for the potential of democratized economic structures to re-calibrate the hazardous course set by “business as usual.”
Jason has published more than six scholarly law review articles on international, human rights, and renewable energy topics and speaks regularly about worker-owned and cooperative business model, non-extractive finance, the future of work, the contemporary and teal practice of law, distributed solar policy and sharing economy legal issues. Jason is an adjunct professor in Colorado State University’s Global Sustainability and Social Enterprise program, where he teaches an MBA course on business law and ethics. He is also a guest lecturer at the University of Colorado Law School’s Entrepreneurial Law Clinic.
His hobbies include mountain biking, yoga, hiking, running, walking his two dogs, coffee, cooking and traveling, and raising his two young children with his amazing wife, Meghan.
Areas of Expertise:
- Business Model Architecture and Design
- Social Enterprise Entity Formation
- Basic Tax
- Equity Allocations and Equity Incentive Plans
- Founders Agreements
- Financing and Capitalization; Securities Compliance
- Employment, Consulting, and Independent Contractor Agreements
- Corporate Governance
- Custom Transactional Support
- Employment Compliance
- Mergers & Acquisitions
- General Outside Counsel
- Cooperative Development
- Training, Organizational Development, and Public Speaking
Moderator: Meegan Moriarty, Senior Legal Policy Analyst, USDA Rural Business-Cooperative Service
As a senior legal policy analyst for USDA Rural Development Cooperative Programs, Meegan Moriarty tracks and advises on cooperative legal policy developments in state and federal tax, antitrust, securities, and agricultural law areas. She leads a congressionally mandated interagency working group on cooperative development that was created to assist with coordination among federal agencies and private sector cooperative stakeholders on cooperative policy. She leads a nationwide project researching and comparing state cooperative statutes. She is also a national point of contact for Rural Development grant, loan, and guarantee programs that apply to cooperatives. Meegan advocates for cooperative development through speeches, webinars, and written publications. Previously she worked in the National Tax office of Ernst and Young analyzing federal tax legislation and regulations and consulting with clients on business opportunities presented by tax law changes. She has a JD from Georgetown University Law Center and a BA from the University of Notre Dame.
CostFree for NSAC Members / $56.00 for Non-Members
Delivery System
- All programs are delivered using the Zoom platform.
- Confirmations will include log-in instructions.
- Participants are able to participate using any device with an Internet connect (if the device does not have speakers, the participant can also dial-in) or they can participate with audio only by dialing in.
- All registrants will receive a link to the CLN’s recording by email within 48 business hours of event’s conclusion.
- There will be assistance available to help with technical and connectivity issues up to 10 minutes prior to the start of the presentation.
Registration
All registration is done on-line and each guest must provide their name and email address to participate. All NSAC members may register for free. Non-members may register for a nominal fee.
Refund Policy
NSAC will not issue refunds for CLNs. If a registrant is unable to participate in the CLN and provides notification to info@nsacoop.org 48 hours prior to the session, a credit will be provided for a future CLN. Alert the NSAC staff member monitoring the CLN if technical difficulties are encountered and technical support will be provided to eliminate problems with future CLNs.
Additional Information
Live participation is required for CPE credit and polling questions must be answered to document your active participation. All registrants will receive an email following the session with links to the slides and/or handouts, and a link to the CLN recording (unless otherwise stated). If you are unable to participate in the live session, you can still watch the recorded session, but you will not be eligible for CPE credits. Those eligible for credits will receive their certificate by email with 7 business days.
For more information regarding NSAC CLNs or administrative policies such as complaint and refund, contact the NSAC Headquarters, 7946 Clyo Road, Suite A, Centerville, OH 45459, 937-222-6707, or info@nsacoop.org.