Application of surplus to other persons
272 Application of surplus to other persons
A part of the surplus arising in a year from the business of a distributing co‑operative may be credited to a person who is not a member, but is qualified to be a member, by way of rebate in proportion to the value of business done by the person with the co‑operative or to the profit earned by the co‑operative on business done by the person with the co‑operative, if —
the person was a member when the business was done and the membership has lapsed; or
the person has applied for membership since the business was done.
Nothing in this section precludes the payment of a bonus to an employee in accordance with the terms of his or her employment.
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