SECTION 1. Short title

SECTION 2. Definitions

SECTION 3. Corporations organized under chapter 156D; election to be governed as employee cooperative

SECTION 4. Revocation of election

SECTION 5. Corporate name

SECTION 6. Members; membership shares; fees; rights and responsibilities

SECTION 7. Voting shares; by-laws; amendment of articles of organization

SECTION 8. Net earnings or losses; apportionment, distribution and payment

SECTION 9. Internal capital accounts; recall or redemption of shares; interest; collective reserve account

SECTION 10. Internal capital account cooperatives

SECTION 11. Conversion of membership shares and internal capital accounts upon revocation of election; consolidation or merger