Tex. Util. Code § 162.303 · Subchapter G. DISSOLUTION

DISTRIBUTION OF NET ASSETS ON DISSOLUTION.

Verbatim from the official edition

Text — Current through the 89th 2nd Called Legislative Session, 2025

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.

Notes and commentary — not statutory text

History

Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.

Source of truth

Edition: Current through the 89th 2nd Called Legislative Session, 2025
Official file: https://statutes.capitol.texas.gov/Docs/UT/htm/UT.162.htm
Text hash: sha256 40fb6e418ec638b869436432e260b1fbddb92a6e48cd705c8fd01920c271e625
Composed by: compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character

Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.