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<law><site_title>Virginia Decoded</site_title><site_url>https://vacode.org</site_url><law_id>81172</law_id><section_number>13.1-346</section_number><catch_line>Definitions</catch_line><edition url="https://vacode.org/2025/" slug="2025" current="TRUE" last_updated="">2025</edition><referred_to_by><reference>13.1-301</reference><reference>13.1-307</reference><reference>13.1-308</reference></referred_to_by><structure><unit label="title" level="1" order_by="1" identifier="13.1">Corporations</unit><unit label="chapter" level="2" order_by="1" identifier="3">Cooperative Associations</unit><unit label="article" level="3" order_by="1" identifier="3">Worker Cooperatives</unit></structure><text>
						<section><p>As used in this article:
		&#x201C;<span class="dictionary">Collective reserve account</span>&#x201D; means an account on the corporate books representing the <span class="dictionary">worker cooperative</span>&#x2019;s entire net book value minus balances in any other <span class="dictionary">equity</span> accounts.
		&#x201C;<span class="dictionary">Member</span>&#x201D; means an individual who has been accepted for membership in, and owns a membership share issued by, a <span class="dictionary">worker cooperative</span>.
		&#x201C;<span class="dictionary">Membership fee</span>&#x201D; means an initial payment, if required by the articles of incorporation or bylaws of the <span class="dictionary">worker cooperative</span>, made by a worker to a <span class="dictionary">worker cooperative</span> as a condition of becoming a <span class="dictionary">member</span>.
		&#x201C;<span class="dictionary">Patronage</span>&#x201D; means the amount of work performed for a <span class="dictionary">worker cooperative</span>, measured in accordance with criteria set forth in the articles of incorporation or bylaws of the <span class="dictionary">worker cooperative</span>.
		&#x201C;Worker&#x201D; means an individual employed by a <span class="dictionary">worker cooperative</span>.
		&#x201C;<span class="dictionary">Worker cooperative</span>&#x201D; means a corporation incorporated under the provisions of Article 3 (&#xA7;&#xA0;<a class="law" title="Incorporators" href="/13.1-618/">13.1-618</a> et seq.) of Chapter 9 that has elected to be governed by this article.</p></section></text><history>2020, c. 673.</history><metadata></metadata></law>
