patronage refund definition
patronage refund means a portion of a cooperative's net margins paid or allocated to a patron based on the patron's patronage.
patronage refund means a portion of the net surplus of a society distributed among its members in proportion to the volume of business done by them with the society from which the surplus of the society was derived;
patronage refund means annual refund to members in proportion to their transactions with the society during the year;
More Definitions of patronage refund
patronage refund means the returns to members from net profits, allocated in proportion to the volume of business each individual has done with the co-operative during the financial year;
patronage refund means an amount that under this Act is allocated among and credited or paid by a credit union to its members, based on the business that has been done with it by each of those members,
patronage refund means an amount that under the Act is allocated among and credited or paid by the Credit Union to its members, based on the business done by each of them with the Credit Union;
patronage refund means the portion of Net Margins attributable to a Patron’s Patronage Transactions that is allocated and distributed to the Patron in accordance with Bylaw Article 7. Patronage Refund has the same meaning as given to “patronage dividend” in Section 1388 of the Code and may be distributed by qualified written notice of allocation or nonqualified written notice of allocation.
patronage refund means an amount that, pursuant to the Act, is allocated among and credited or paid by the credit union to its members or associates, based upon the business done by each of them with or through the credit union;
patronage refund means the amount returned to the patrons in proportion to their patronage in accordance with section 421C-25.
patronage refund means the portion of Net Savings attributable to a Patron’s Patronage Transactions that is allocated and distributed to the Patron in accordance with Article 7. Patronage Refund has the same meaning as given to “patronage dividend” in Section 1388 of the Code.