As used in this chapter, the following words and terms have the following meaning:

(1)  “Member” means a natural person who has been accepted in and owns a membership share issued by a workers’ cooperative.

(2)  “Paid-in capital” means money or other property contributed by a member to a workers’ cooperative that is exclusive of any membership fee.

(3)  “Patronage” means the amount of work performed as a member of a workers’ cooperative that is measured in accordance with the certificate of incorporation and bylaws.

(4)  “Person” means an individual, a partnership, a corporation, an association, or two (2) or more persons having a joint or common interest.

(5)  “Workers’ cooperative” means a corporation that has elected to be governed by the provisions of this chapter.

(6)  “Written notice of allocation” means the amount of work performed as a member of a workers’ cooperative that is measured in accordance with the certificate of incorporation and bylaws.