Gavvy: Util. Code, Sec. 161.253. Distribution of Net Assets On Dissolution.

Add your company name, a link, and a message to this page.

Sec. 161.253. Distribution of Net Assets On Dissolution.

Sec. 161.253. DISTRIBUTION OF NET ASSETS ON DISSOLUTION. Assets of a dissolved electric cooperative that remain after all liabilities or obligations of the cooperative have been satisfied shall be distributed pro rata to the members of the cooperative who were members when the certificate of dissolution was filed.

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

Gavvy last updated this database on: Sep 6, 2024