RCW 23.78.010
Definitions.
For the purposes of this chapter, the terms defined in this section have the meanings given:
(1) "Employee cooperative" means a corporation that has elected to be governed by the provisions of this chapter.
(2) "Member" means a natural person who has been accepted for membership in, and owns a membership share issued by an employee cooperative.
(3) "Patronage" means the amount of work performed as a member of an employee cooperative, measured in accordance with the articles of incorporation and bylaws.
(4) "Written notice of allocation" means a written instrument which discloses to a member the stated dollar amount of the member's patronage allocation, and the terms for payment of that amount by the employee cooperative.
[ 1987 c 457 § 2.]
Structure Revised Code of Washington
Title 23 - Corporations and Associations (Profit) (Business Corporation Act: See Title 23b Rcw)
Chapter 23.78 - Employee Cooperative Corporations.
23.78.020 - Election by corporation to be governed as an employee cooperative—Laws governing.
23.78.030 - Revocation of election.
23.78.050 - Members—Membership shares.
23.78.060 - Right to vote—Power to amend or repeal bylaws—Right to amend articles of incorporation.
23.78.070 - Net earnings or losses—Apportionment, distribution, and payment.
23.78.090 - Internal capital account cooperatives.
23.78.100 - Provision for conversion of shares and accounts—Limitations upon merger.