Somerset Rules

Description

Josef Davies-Coates:

"Launched in 2009, the Somerset Rules were one of the UK’s first set of model rules for a multi-stakeholder co-op, and they’re arguably still the best. Packed full of best practice gleaned from decades of co-operative development experience, they’re structured to closely follow co-op principles, written in relatively plain English, and are cleverly drafted to allow for a wide range of different configurations. You can define the percentage of overall control each stakeholder group has. They are also ‘social accounting ready’ and are designed to enable the widest range of options for financing. In 2012 they were fully revised and overhauled and a version for use as a Community Interest Company limited by guarantee was developed. In May 2014 a Community Benefit Society version was created and we’re now in the process of adopting them for the United Diversity equivalent of the Enspiral Foundation." (http://stirtoaction.com/open-co-ops-inspiration-legal-structures-and-tools/)