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