The revenues of the cooperative shall be devoted to:
(1) The payment of operating and maintenance expenses, the rendition of efficient service, and the creation of adequate depreciation reserves sufficient to maintain the investment in facilities;
(2) The payment of the principal and interest on outstanding obligations;
(3) The payment of dividends on stock issued and outstanding, if any;
(4) The creation of such reserves for improvements, construction, and contingencies as the board from time to time may prescribe; and
(5) Any other purposes authorized by law.
Structure Arkansas Code
Title 23 - Public Utilities and Regulated Industries
Subtitle 1 - Public Utilities And Carriers
Chapter 17 - Telephone and Telegraph Companies
Subchapter 2 - Rural Telecommunications Cooperative Act
§ 23-17-204. Purpose of cooperative
§ 23-17-205. Powers of cooperative
§ 23-17-206. Jurisdiction of commission
§ 23-17-208. Cooperative names
§ 23-17-209. Articles of incorporation — Contents
§ 23-17-210. Articles of incorporation — Execution, filing, and recording
§ 23-17-211. Articles of incorporation — Amendment
§ 23-17-212. Certificate of incorporation
§ 23-17-213. Organizational meeting
§ 23-17-215. Qualifications of members
§ 23-17-216. Membership fees and capital credits
§ 23-17-217. Meetings of members
§ 23-17-218. Board of directors generally
§ 23-17-219. Board of directors — Elections — Term of office — Vacancies
§ 23-17-220. Board of directors — Meetings
§ 23-17-221. Officers, agents, and employees
§ 23-17-222. Executive committee
§ 23-17-223. Waiver of notice of meeting
§ 23-17-228. Nonprofit operation
§ 23-17-230. Taxation — Exemptions
§ 23-17-231. Mortgage, pledge, or other disposition of property
§ 23-17-232. Recordation of mortgages — Effect thereof
§ 23-17-233. Nonliability of members and shareholders for debts of cooperatives
§ 23-17-235. Liabilities of connecting companies or cooperatives
§ 23-17-236. Construction standards
§ 23-17-237. Limitation of actions
§ 23-17-238. Indemnification of directors, officers, employees, or agents — Insurance
§ 23-17-240. Unclaimed capital credits and stock