Amend Section 6.4 - Allocation of Net Income, Surplus, and Loss

hyphacoop / handbook

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Closed LexaMichaelides closed 7 months ago

LexaMichaelides commented 8 months ago

Existing text allows the Board to permit a cash payout of member loans (held in individual members' capital accounts) only in years of surplus.
The design of an incentive program may, depending on the precise design, make sense for cash payouts to be permitted even in loss years.

Subject to membership and board approval at AGM.