§ 23-17-229 - Use of revenues. - Arkansas Statutes

23-17-229. Use of revenues.

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.