§ 10-13-06 — Use of revenue - Dividends

The revenues of an electric cooperative shall be devoted first to the payment of operating
and maintenance expenses and the principal and interest on outstanding obligations, and

thereafter, to such reserves for improvement, new construction, depreciation, and contingencies
as the board of directors from time to time may prescribe. Revenues not required for the
purposes set forth in this section shall be returned from time to time to the members of the
cooperative in cash, in abatement of current charges for electrical energy, or otherwise as the
board of directors may determine on a pro rata basis according to the amount of business done
with each during the period. Such return may be made by way of general rate reduction to the
members if the board of directors so elects.