DecisionDepot
California legal research

Texas Business Organizations Code

§ 251.301 — LIMITATIONS ON RETURN ON CAPITAL

BO § 251.301Title 6. ASSOCIATIONS · Ch. 251. COOPERATIVE ASSOCIATIONS · Art. G. CAPITAL AND NET SAVINGS

Statute text

View on source
(a)Except as otherwise provided by the cooperative association's bylaws, an investment dividend of a cooperative association may not be cumulative and may not exceed eight percent of investment capital.
(b)Total investment dividends distributed for a fiscal year may not exceed 50 percent of the net savings for the period.

Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source: Texas Business Organizations Code § 251.301 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.