Arkansas Statutes
§ 23-17-229 — Use of revenues
Arkansas·Title 23
The revenues of the cooperative shall be devoted to:
(1)The payment of operating and maintenance expenses, the rendition of efficient service, and the creation of adequate depreciation reserves sufficient to maintain the investment in facilities;
(2)The payment of the principal and interest on outstanding obligations;
(3)The payment of dividends on stock issued and outstanding, if any;
(4)The creation of such reserves for improvements, construction, and contingencies as the board from time to time may prescribe; and (5) Any other purposes authorized by law.
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Legislative History
Acts 1951, No. 51, § 27; A.S.A. 1947, § 77-1627; Acts 1989, No. 437, § 18.
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