Arkansas § 23-75-115 Use of surplus

Arkansas Statutes

§ 23-75-115 — Use of surplus

Any surplus in excess of all reserves established by the directors of the corporation and shown in the annual report of a corporation may be used by the corporation for the following purposes in the order of priority shown:

(1)To liquidate on a pro rata basis any losses incurred by hospitals, physicians, and surgeons, or other similar institutions or persons, upon the settlement of bills with the corporation in any previous years;

(2)To return the original working capital contribution to the corporation, or any part thereof, on a pro rata basis; and (3) To reduce rates charged subscribers or to expand the services rendered to them.

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Any surplus in excess of all reserves established by the directors of the corporation and shown in the annual report of a corporation may be used by the corporation for the following purposes in the order of priority shown: (1) To liquidate on a pro rata basis any losses incurred by hospitals, physicians, and surgeons, or other similar institutions or persons, upon the settlement of bills with the corporation in any previous years; (2) To return the original working capital contribution to the corporation, or any part thereof, on a pro rata basis; and (3) To reduce rates charged subscribers or to expand the services rendered to them.

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