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The Vermont Statutes Online
Title
11
:
Corporations, Partnerships and Associations
Chapter
008
:
WORKER COOPERATIVE CORPORATIONS
§
1088. Net earnings or losses; apportionment, distribution and payment
(a) The net
earnings or losses of a worker cooperative shall be apportioned and distributed
at such times and in such manner as the articles of association or bylaws shall
specify. Net earnings declared as patronage allocations with respect to a
period of time, and paid or credited to members, and net losses allocated to
members with respect to a period of time shall be apportioned among the members
in accordance with the ratio which each member's patronage during the period
involved bears to total patronage by all members during that period.
(b) The
apportionment, distribution, and payment of net earnings required by this
section may be in cash, credits, written notices of allocation, or capital
stock issued by the worker cooperative. (Added 1985, No. 46, § 1.)