In order to become a member of the Berwick Oil cooperative, an application must be submitted along with a payment of $25 for a share of common stock. Anyone can apply to become a member-owner.
There are two classes of common stockholders: voting and participating. A voting member of a farmers’ cooperative must be a bona fide producer of agricultural products as a farmer, planter, ranchman, dairyman, nut or fruit grower. If the patron is not a bona fide producer of agriculture, then the patron becomes a participating or non-voting member of the cooperative.
The application is reviewed by the Board of Directors to determine if the patron qualifies as a voting or a participating shareholder. Once the determination is made and voted for approval by the Board of Directors, the applicant will receive a letter in the mail indicating their shareholder status.
