Maine § 13 §1972 Definitions

Maine Statutes

§ 13 §1972 — Definitions

Maine § 13 §1972

Title 13CORPORATIONS

Part 2CORPORATIONS WITHOUT CAPITAL

Ch. 85COOPERATIVES

This text of Maine § 13 §1972 (Definitions) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 13, § 13 §1972 (2026).

Text

As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings.

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 di

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As used in this subchapter, unless the context otherwise indicates, the following terms have the following meanings.
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.