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Greenbelt News Review
Greenbelt, Prince George's County, Maryland
What is this article about?
Over 5000 members of Greenbelt Consumer Services approved two charter changes by majority vote: raising capital stock limit from $1 million to $50 million and removing $1000 individual stock ownership limit from charter (retained in bylaws). Changes effective at July 20 meeting. Board re-elected officers for one year.
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More than 5000 members of Greenbelt Consumer Services have voted, most of them favorably, in an election on two proposed changes in the cooperative's charter. One change would raise from one million to 50 million dollars the limit on the amount of capital stock that can be issued. The other would remove from the charter a thousand-dollar limitation on the amount of co-op stock an individual member may own although this provision will remain in effect in the by-laws.
Both changes will be effected at a recessed annual meeting on Friday, July 20, at 8 p.m. in the GCS offices.
In another development the board of directors re-elected the co-op's officers for another one-year term.
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Domestic News Details
Event Date
Friday, July 20
Outcome
both charter changes approved by majority of more than 5000 members; officers re-elected for one-year term.
Event Details
More than 5000 members voted favorably on two proposed charter changes for Greenbelt Consumer Services: raising capital stock issuance limit from one million to 50 million dollars and removing thousand-dollar limit on individual co-op stock ownership from charter, though retained in by-laws. Changes to be effected at recessed annual meeting on Friday, July 20, at 8 p.m. in GCS offices. Board of directors re-elected co-op's officers for another one-year term.