### Question
How is the "qualified per-unit retain certificate" defined?


### Answer
The term **qualified per-unit retain certificate** is defined in *26 U.S.C. § 1388* as follows -

> any per-unit retain certificate which the distributee has agreed, in the manner provided in paragraph (2), to take into account at its stated dollar amount as provided in section 1385(a)

#### Citation:
  - *26 U.S.C. § 1388*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter T-Cooperatives and Their Patrons > PART III-DEFINITIONS; SPECIAL RULES**

