Arkansas § 23-17-229 Use of revenues

Arkansas Statutes

§ 23-17-229 — Use of revenues

Arkansas § 23-17-229

Title23

This text of Arkansas § 23-17-229 (Use of revenues) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 23-17-229 (2026).

Text

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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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.