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  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE XXII CORPORATIONS
  • CHAPTER 157A EMPLOYEE COOPERATIVE CORPORATIONS
  • Section 2 Definitions

Section 2. As used in this chapter the following words shall, unless the context clearly requires otherwise, have the following meanings:

“Employee cooperative”, a corporation which has elected to be governed by the provisions of this chapter.

“Member”, a natural person who has been accepted for membership in, and owns a membership share issued by an employee cooperative.