Maine § 1972. - Definitions
Full text of Maine Maine Revised Statutes § 1972. — Definitions, with citation guidance and answers to common questions.
§ 1972.. Definitions
As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1983, c. 136 (NEW).]
1. Employee cooperative. "Employee cooperative" means a corporation which has duly elected to be governed by this subchapter.
2. Member. "Member" means a natural person who has been accepted for membership in and owns a membership share issued by an employee cooperative.
3. Membership fee. "Membership fee" means an initial payment made by a person to an employee cooperative as a condition to becoming a member.
4. Patronage. "Patronage" means the amount of work performed as a member of an employee cooperative, measured in accordance with the articles of incorporation or bylaws.
5. Written notice of allocation. "Written notice of allocation" means a written instrument which discloses to a member the stated dollar amount of that member's patronage allocation and the terms for payment of that amount by the employee cooperative.
Frequently Asked Questions About Maine § 1972.
What does Maine Revised Statutes § 1972. cover?
Section 1972. ("Definitions") is part of the Maine Revised Statutes, the codified statutory law of Maine. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maine § 1972.?
A common citation format is "Maine Revised Statutes § 1972." (Maine). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maine law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maine official source linked on this page or consult a licensed Maine attorney.
How does Maine § 1972. apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maine can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maine.