Washington § 23.78.010 - Definitions.

Full text of Washington Revised Code of Washington § 23.78.010 — Definitions., with citation guidance and answers to common questions.

§ 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 s 2.]

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Section 23.78.010 ("Definitions.") is part of the Revised Code of Washington, the codified statutory law of Washington. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

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