Tex. Utilities Code § 162.059
This is the official text of Tex. Utilities Code § 162.059, part of Texas’s Utilities Code — regulates utility companies.
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§ 162.059. NONPROFIT OPERATION.
Official statutory text
(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.
(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.
Status: in_force · Read it on the official government site
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