Texas Utilities Code

§ 161.253 — DISTRIBUTION OF NET ASSETS ON DISSOLUTION

UT § 161.253Title 4. DELIVERY OF UTILITY SERVICES · Part A. UTILITY CORPORATIONS AND OTHER PROVIDERS · Ch. 161. ELECTRIC COOPERATIVE CORPORATIONS · Art. F. DISSOLUTION

Statute text

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Assets of a dissolved electric cooperative that remain after all liabilities or obligations of the cooperative have been satisfied shall be distributed pro rata to the members of the cooperative who were members when the certificate of dissolution was filed.

Legislative history

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