The net earnings or losses shall be apportioned among the members in accordance with the ratio which each member's patronage during the period involved bears to total patronage by all members during the period. "Patronage" means amount of purchases, sales, business, labor, wages or other similar criteria.
N.C. Gen. Stat. § 54-126
Apportionment of earnings
Applied in 2 court decisions — leading case Sharp Farms v. Speaks (2019)
Most recently applied in Teresa Speaks v. U. S. Tobacco Cooperative Inc. (February 2019)
1915, c. 144, s. 13; C.S., s. 5257; 1925, c. 179, s. 5; 1985, c. 542, s. 6.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.