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Conn. Gen. Stat. § 33-193

Distribution of profits; sinking fund

Connecticut · General Statutes of Connecticut Chapter 595 — Cooperative Associations · Status: effective

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Conn. Gen. Stat. § 33-193, Distribution of profits; sinking fund, Connecticut, version 1 as recorded 2026-10-03, yourstate.us, https://yourstate.us/provision/2199003
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There shall be a distribution of the profits or surplus of an association among the member shareholders as is prescribed by the association's bylaws. The board of directors of an association may declare a sum of not more than forty per cent of the net profits or surplus to be appropriated for a contingent or sinking fund, an unallocated reserve fund or a collective account as may be prescribed in the association's bylaws.