Texas § 162.303 DISTRIBUTION OF NET ASSETS ON DISSOLUTION.

Texas Statutes

§ 162.303 — DISTRIBUTION OF NET ASSETS ON DISSOLUTION.

Texas § 162.303

Code UTUtilities Code

This text of Texas § 162.303 (DISTRIBUTION OF NET ASSETS ON DISSOLUTION.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Utilities Code Code Ann. § 162.303 (2026).

Text

Sec. 162.303. DISTRIBUTION OF NET ASSETS ON DISSOLUTION. Assets of a dissolved telephone cooperative that remain after all liabilities or obligations of the cooperative have been satisfied shall be distributed as follows:

(1)first, to patrons for the pro rata return of amounts standing to their credit because of their patronage; and

(2)second, to members for the pro rata repayment of membership fees.

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Sec. 162.303. DISTRIBUTION OF NET ASSETS ON DISSOLUTION. Assets of a dissolved telephone cooperative that remain after all liabilities or obligations of the cooperative have been satisfied shall be distributed as follows:
(1) first, to patrons for the pro rata return of amounts standing to their credit because of their patronage; and
(2) second, to members for the pro rata repayment of membership fees.