


    § 81. Definitions. As used in this article the following words shall,
  unless the  context  clearly  requires  otherwise,  have  the  following
  meanings:
    1. "Worker  cooperative,"  a  corporation  which  has  elected  to  be
  governed by the provisions of this article.
    2. "Member," a natural person who has been  accepted  in  and  owns  a
  membership share issued by a worker cooperative.
    3. "Patronage",  the  amount of work performed as a member of a worker
  cooperative,  measured   in   accordance   with   the   certificate   of
  incorporation and by-laws.
    4. "Written   notice   of  allocation",  a  written  instrument  which
  discloses to  a  member  the  stated  dollar  amount  of  such  member's
  patronage  allocation  and  the  terms  for payment of the amount by the
  worker cooperative.
    5. "Paid-in capital",  money  or  other  property,  exclusive  of  the
  membership fee, contributed by a member to a worker cooperative.

Last modified: August 9, 2006