Module 3: Incorporating Your Opportunity Development Co-operative
This module addresses the questions of “Why a co-operative?” and “How do we set up an Opportunity Development Co-operative (ODC)?”
You will learn how to move forward from an informal group to a legally registered Opportunity Development Co-operative. You will walk through the steps and legal documents required to incorporate this organization. Like other types of corporations, a co-operative has specific rights and responsibilities.
In this module you will learn about co-operative values and principles, the foundation on which co-ops are built. The module also covers co-operative governance, decision-making, and the tax benefits available to ODC’s. Finally, the last section lists and explains the specific documents you’ll need to complete the incorporation process. (There are samples and templates, however, as indicated earlier, some of these cannot be released without the guidance of your ACCA coach).
This module gives you the technical information you need to incorporate. And you may be tempted to gather the information and head straight to your lawyer. But don’t do that quite yet. If you incorporate prematurely you may have to make some amendments later, costing you time and money. Your ACCA coach will encourage you to work through modules 4 and 5 before you do the incorporation process. After all, the purpose for this program is to support you to do this easily and effectively.