Hawaii Revised Statutes 421C-25 – Allocation and distribution of net savings
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Terms Used In Hawaii Revised Statutes 421C-25
- Articles: means the articles of incorporation. See Hawaii Revised Statutes 421C-1
- Association: means a consumer cooperative association. See Hawaii Revised Statutes 421C-1
- Directors: means the board of directors of an association. See Hawaii Revised Statutes 421C-1
- Interest-dividends: means the return on share, membership fee, or membership capital of the association which is limited in accordance with section 421C-19. See Hawaii Revised Statutes 421C-1
- Member: means a member of either a stock or a nonstock association in accordance with section 421C-3. See Hawaii Revised Statutes 421C-1
- Net savings: means the total income of an association minus the costs of operation. See Hawaii Revised Statutes 421C-1
- Patronage refund: means the amount returned to the patrons in proportion to their patronage in accordance with § 421C-25. See Hawaii Revised Statutes 421C-1
- Share or membership capital: refers to the capital paid into an association by a member in accordance with section 421C-3. See Hawaii Revised Statutes 421C-1