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Tex. Utilities Code § 162.059

NONPROFIT OPERATION

Texas · Texas Utilities Code · Status: effective

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Tex. Utilities Code § 162.059, NONPROFIT OPERATION, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/577981
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(a) A telephone cooperative shall be operated on a nonprofit basis for the mutual benefit of its members and patrons. (b) A cooperative's bylaws and its contracts with members and patrons must contain appropriate provisions relating to the disposition of revenues and receipts to establish and maintain the cooperative's nonprofit and cooperative character.