To keep up to date with developments, please check the latest minutes - Legal Committee Minutes 05122008

TO READ AND COMMENT ON A STANDARD SET OF ARTICLES OF INCORPORATION, GO HERE.

We've been talking about the following set of legal structures:

Three legal entities:

1) a development company limited by shares (HEP Ltd.),

2) a co-operative (HEP Co-op), and

3) a community land trust (CLT). 

HEP Ltd. would be incorporated first.  Should we do this, we will require a shareholders' agreement and agreements with those who intend to lease business space or portions of the land.

I (Nate) favor the use of a sociocratic structure for each entity.  Our current governance agreements use a sociocratic structure.  This may affect our legal structure. Wikipedia defines sociocracy as "a system of governance using consent-based decision making among equivalent individuals and an organizational structure based on cybernetic principles".

Proposals for our incorporation (feel free to add suggestions):

"We will incorporate a company limited by shares, in which ownership of one or more Class A shares entitles a shareholder to one vote."

"The first entity we incorporate will have the purpose of developing one or more sustainable communities, and may continue to do so after the development of the ecovillage in which we plan to live together."

Concerns / Design Requirements  (feel free to add suggestions):

Equal say in decision-making for all participants

Easy to incorporate

Saving money

Legally enforceable agreements

limitation of liability

Easy to receive investment funds

Transparent structure