Legal Information


Solidarity Cannabis Seed Initiative will be a multi-stakeholder worker cooperative corporation organized under the California Cooperative Corporation Law. It will seek a local nursery permit from Oakland pending a nursery license pursuant to Section 19300.5 of the Business and Professional Codes.

Membership

Solidarity Cannabis Seed Cooperative (SCSC) will be comprised of several distinct member classes.

Our bylaws will require that the Worker-Owner members always maintain a majority of equity and voting rights, and a majority of our workers must also be Worker-Owners, as required by section 12253.5 of the California Corporations Code, and are the sole members entitled to patronage under section 12243.5. 

Consumer Cooperative Membership is open to all qualifying California patients and licensed commercial cultivators operating with a local permit pending Bureau of Medical Cannabis Regulations licensing. Additional requirements and benefits will be outlined in the bylaws.

Targeted dividend shall not be considered patronage for purposes of section 12201.5. of California Corporations Code. It is only redeemable for store credit, if the member elects not to use the credit within a timeframe to be specified in the bylaws, the cash value will be donated to a local worker-directed nonprofit organization. Members are solely responsible for any applicable taxes on merchandise obtained using store credit.

Producer Membership is open to all licensed cannabis nurseries operating with a local permit pending Bureau of Medical Cannabis Regulations licensing. Additional requirements and benefits will be outlined in the bylaws.

Community Investor Membership eligibility requirements and benefits will be outlined in the bylaws.

Contact us for additional information.

Donations

Donations to SCSC are not tax deductible.  


disclaimer

All statements and expressions are the sole opinion of the company and are subject to change without notice. The Company is not liable for any investment decisions by its readers or subscribers. It is strongly recommended that any purchase or sale decision be discussed with a financial advisor, or a broker-dealer, or a member of any financial regulatory bodies. The information contained herein has been provided as an information service only. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. Investors are cautioned that they may lose all or a portion of their investment in this or any other company.

Information contained herein contains "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities and Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical facts and may be "forward looking statements". Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of words such as "expects", "will", "anticipates", "estimates", "believes", or by statements indicating certain actions "may", "could", "should" or "might" occur.