NC General Statutes
N.C. Gen. Stat. § 54-126 (2026)
Apportionment of earnings
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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. (1915, c. 144, s. 13; C.S., s. 5257; 1925, c. 179, s. 5; 1985, c. 542, s. 6.)
Notes of Decisions
Cited in 1
case, 2019–2019 · leading case: Teresa Speaks v. U. S. Tobacco Coop. Inc., 917 F.3d 276 (4th Cir. 2019).
Teresa Speaks v. U. S. Tobacco Coop. Inc., 917 F.3d 276 (4th Cir. 2019). “See N.C. Gen. Stat. §§ 54-126 , 54-130. By retaining a reserve far in excess of what is reasonable-a reserve that exists because of members' patronage-the Cooperative deprives the plaintiffs of their legal interest in the excess portion of the reserve.”
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