The Colorado Statement of Election (Cooperatives) is a document that outlines the rules and regulations of a cooperative, which is an organization owned and operated by a group of individuals for mutual benefit. The Statement of Election is a legal document that must be filed with the Colorado Secretary of State when a cooperative is formed. The document contains the name of the cooperative, the purpose of the cooperative, the name and address of the cooperative’s registered agent, the number of members, and the voting rights of each member. The Statement of Election also outlines the duties of the Board of Directors, the operating procedures, and any restrictions on the ownership or sale of the cooperative’s assets. There are two main types of Colorado Statement of Election (Cooperatives): consumer cooperatives and worker cooperatives. Consumer cooperatives are owned and operated by members who purchase goods and services from the cooperative. Worker cooperatives are owned and operated by employees of the cooperative who share the profits and losses of the organization.