Patronage Returns definition
Patronage Returns means a patronage return or returns based on the business done by Members with or through the Cooperative, as provided in the Act;
Patronage Returns means “allocations in proportion to patronage” as defined in the Act which are declared as paid on and to Membership Shares pursuant to the Articles and the Bylaws;
Patronage Returns means payments or like consideration that may be payable to Members for their patronage of the Cooperative, including for example, those Members who enter into contractual relationships with the Cooperative to host solar panels and purchase electrical power;
Examples of Patronage Returns in a sentence
Until a Member has advanced the full amount of the Membership Loan to the Co-operative, the Member will not be entitled to receive any cash Patronage Returns (as defined below) but will have all other rights and obligations of being a Member in the Co-operative.
In the event of dissolution of the Co-operative, after the payment of all debts and liabilities, the remaining property of the Co-operative or any part thereof shall be distributed or disposed of among the Members at the time of dissolution on the basis of Patronage Returns accrued to the Members during the five (5) fiscal years immediately preceding the dissolution or after the date of incorporation.