The board of governors may establish what portion of excess earnings of the association shall be distributed among the associates. Any distribution of excess earnings of the association shall be made to each associate according to his proportionate ownership in the association.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 93 - Professional Associations
Section 9301 - Short title of chapter
Section 9302 - Application of chapter
Section 9304 - Purpose of association
Section 9305 - Articles of association
Section 9306 - Board of governors
Section 9310 - Distribution of excess earnings
Section 9311 - Interests of associates
Section 9312 - Transfer of interests
Section 9313 - Redemption of interests
Section 9314 - Term of existence
Section 9316 - Voting of associates
Section 9317 - Liability of associates