Sample by-law changes to enable a co-op to apply charitable status

Attached is an example of by-law changes that were made in order to allow an existing PEI co-op to register as a charity. The changes were required by what was called Revenue Canada at the time (now Canada Revenue Agency). The process of charitable registration went smoothly once the changes were made. The one dollar ($1) maximum for shareholders and annual memberships may not be an absolute, but it was stated as a sine qua non at the time.  The co-op’s objects were consistent with permitted charitable purposes.

CHARITABLE changes to incoporation articles – SAMPLE