(a) The net earnings or losses of a worker cooperative shall be apportioned and distributed at such times and in such manner as the articles of organization or bylaws shall specify. Net earnings declared as patronage allocations with respect to a period of time, and paid or credited to members, shall be apportioned among the members in accordance with the ratio which each member's patronage during the period involved bears to total patronage by all members during that period.
(b) The apportionment, distribution and payment of net earnings required by subsection (a) of this section may be in cash, credits, written notices of allocation or corporate shares issued by the worker cooperative.
(P.A. 84-430, S. 9, 14.)
Structure Connecticut General Statutes
Chapter 599a - Worker Cooperative Corporations
Section 33-418f. - Short title: Worker Cooperative Corporations Act.
Section 33-418g. - Definitions.
Section 33-418i. - Membership requirements. Membership shares. Rights of members.
Section 33-418j. - Voting rights of members and shareholders. Amendments to bylaws.
Section 33-418k. - Board of directors' membership requirements.
Section 33-418l. - Apportionment of earnings and losses.