California Public Utilities Code

§ 3090

Name: California Superior Court Tentative Rulings
Creator: DecisionDepot
License: https://creativecommons.org/licenses/by-nc/4.0/

PUC § 3090Div. 1 · Part 4 · Ch. 1 · Art. 5

Statute text

View on leginfo.ca.gov

The bylaws may prescribe the amount of any dividends which may be declared on the stock or membership capital, which shall not exceed 8 percent per annum, shall be in the nature of interest, and shall not affect the nonprofit character of any association.

Legislative history

Added by Stats. 1987, Ch. 680, Sec. 1.