2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 77 - Workers' Cooperative Corporations
7702 - Definitions.

     § 7702.  Definitions.
        The following words and phrases when used in this chapter
     shall have the meanings given to them in this section unless the
     context clearly indicates otherwise:
        "Bureau."  The Corporation Bureau of the department.
        "Corporation."  A corporation organized for profit which has
     elected to be governed by this chapter.
        "Member."  An individual who patronizes a corporation by the
     contribution of labor and who has been accepted for membership
     in and owns a membership share issued by the corporation.
        "Patronage."  The number of hours of work performed as a
     member of a corporation.
        "Patronage allocation."  The share of net earnings or losses
     with respect to a period of time paid or credited to a member on
     the basis of the ratio which the member's patronage during the
     period involved bears to total patronage by all members during
     that period.
        "Written notice of allocation."  A written instrument which
     discloses to a member the stated dollar amount of the member's
     patronage allocation and the terms of payment of that amount by
     the corporation.
     (Dec. 19, 1990, P.L.834, No.198, eff. imd.)

        1990 Amendment.  Act 198 renumbered section 7701 to section
     7702 and renumbered former section 7702 to section 7703,
     retroactive to June 19, 1989.