Texas Utilities Code

§ 161.059 — NONPROFIT OPERATION

UT § 161.059Title 4. DELIVERY OF UTILITY SERVICES · Part A. UTILITY CORPORATIONS AND OTHER PROVIDERS · Ch. 161. ELECTRIC COOPERATIVE CORPORATIONS · Art. B. CREATION AND OPERATION OF ELECTRIC COOPERATIVES

Statute text

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(a)An electric cooperative shall operate without profit to its members.

(b)The rates, fees, rents, and other charges for electric energy and other facilities, supplies, equipment, or services furnished by the cooperative must be sufficient at all times to:

(1)pay all operating and maintenance expenses necessary or desirable for the prudent conduct of its business;

(2)pay the principal of and interest on the obligations issued or assumed by the cooperative in performing the purpose for which the cooperative was organized; and

(3)create reserves.

(c)The cooperative shall devote its revenues:

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Legislative history

Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.