New York Laws
Article 5-A - Worker Cooperative Corporations
81 - Definitions.

§ 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.

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