The name of this organization shall be known as the MSU Student Housing Cooperative, Inc. henceforth referred to as the SHC.
The purpose of the SHC shall be to provide high-quality, low-cost, not-for-profit cooperative housing and educational opportunities to very low- to moderate-income people*, to promote the concept of cooperative living and to uphold the Rochdale Principles of Cooperation. *(Very low- to moderate-income as defined by HUD Standards for Lansing–East Lansing, MI MSA).
The SHC has a responsibility to provide for the needs of its membership, but the membership has a higher responsibility to the SHC, that of being part owner in a collective ownership. Because of this collective ownership, all members must be responsible to each other as equals. If this responsibility is not fulfilled, then the SHC is no longer an organization of its members, only an organization of people.
Section 1. All policies and directives established by these By-Laws, the Articles of Incorporation, valid membership referenda, regular all- membership meetings, valid decisions of the MSU-SHC Board of Directors and the Code of Operations shall be binding on the Corporation in the following descending order of supremacy: