Texas Utilities Code

§ 162.059 — NONPROFIT OPERATION

UT § 162.059Title 4. DELIVERY OF UTILITY SERVICES · Part A. UTILITY CORPORATIONS AND OTHER PROVIDERS · Ch. 162. TELEPHONE COOPERATIVE CORPORATIONS · Art. B. CREATION AND OPERATION OF TELEPHONE COOPERATIVES

Statute text

View on source

(a)A telephone cooperative shall be operated on a nonprofit basis for the mutual benefit of its members and patrons.

(b)A cooperative's bylaws and its contracts with members and patrons must contain appropriate provisions relating to the disposition of revenues and receipts to establish and maintain the cooperative's nonprofit and cooperative character.

Legislative history

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