Sec. 301.044. SURPLUS REVENUE. The directors of a cooperative association may, in accordance with the association's bylaws, deposit to the credit of the surplus fund any surplus revenue derived from a system or divide the surplus revenue among the patrons in proportion to the patrons' respective contributions to the working capital of the association and their patronage.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Structure Texas Statutes
Subtitle E - Cooperative Associations
Chapter 301 - Cooperative Associations
Subchapter B. Miscellaneous Cooperative Associations
Section 301.032. Creation of Cooperative Association
Section 301.033. Articles of Incorporation
Section 301.034. Use of Public Funds Prohibited
Section 301.035. Membership; Membership Privileges; Expulsion of Members
Section 301.036. Membership Not Required
Section 301.037. Powers of Cooperative Association
Section 301.038. Provision of Services; Costs
Section 301.039. Bonds, Notes, or Other Obligations
Section 301.040. Bonds as Investments
Section 301.041. Liability to Creditors
Section 301.042. Tax Exemption
Section 301.043. Annual Report
Section 301.044. Surplus Revenue
Section 301.045. Loans to Members Prohibited