The term “Worker Cooperative” means any enterprise that meets all of the following criteria:
- The enterprise is a business entity with one or more classes of membership
- All workers who are willing to accept the responsibilities of membership and who meet member eligibility criteria are eligible to become worker-owners
- A majority of allocated earnings and losses are allocated to worker-owners on the basis of patronage
- The class of worker-owners has a controlling ownership interest
- A majority of the Board of Directors or governing body is elected by the worker-owners on the basis of one-member-one-vote
- Decisions about return on capital investment are made by the worker-owner class or by the Board of Directors or governing body