§ 92. Internal capital accounts; recall or redemption of shares; interest; collective reserve account. 1. Any worker cooperative may establish through its certificate of incorporation or by-laws a system of internal capital accounts, to reflect the book value and to determine the redemption price of membership shares, capital stock and written notices of allocation. As used in this article, "written notice of allocation" means a written instrument which discloses to a member the stated dollar amount of such member's patronage allocation and the terms for payment of that amount by the worker cooperative.

2. The certificate of incorporation or by-laws of a worker cooperative may permit the periodic redemption of written notices of allocation and capital stock, and must provide for recall and redemption of the membership share upon termination of membership in the cooperative. No redemption shall be made if such redemption would result in the liability of any director or officer of the worker cooperative under section seven hundred nineteen and section seven hundred twenty of the business corporation law.

3. The certificate of incorporation or by-laws may provide for the worker cooperative to pay or credit interest on the balance in each member's internal capital account.

4. The certificate of incorporation or by-laws may authorize assignment of a portion of net retained proceeds and net losses to a collective reserve account. Net retained proceeds assigned to the collective reserve account may be used for any and all corporate purposes as determined by the board of directors.