§ 13 §1501 — Definitions

In this subchapter, unless the subject matter requires otherwise:
1.
Association.
"Association" means a group enterprise legally incorporated under this subchapter and shall be deemed to be a nonprofit corporation.
2.
Cooperative basis.
"Cooperative basis" as applied to any incorporated or unincorporated group referred to in subsequent sections of this subchapter means:
3.
Member.
"Member" means not only a member in a nonshare association but also a member in a share association.
4.
Net savings.
"Net savings" means the total income of an association minus the costs of operation.
5.
Savings returns.
"Savings returns" means the amount returned to the patrons in proportion to their patronage or otherwise in accordance with this subchapter.