The board of governors may establish what portion of excess earnings of the association shall be distributed among the associates. Any distribution of excess earnings of the association shall be made to each associate according to his proportionate ownership in the association.
15 Pa.C.S. § 9310
Distribution of excess earnings
Known as the Professional Association Act
The act spans §§ 15-9301 to 15-9319 (19 sections).
Official source: Pennsylvania General Assembly. Reproduced from public-domain Pennsylvania statutes; confirm against the official source for the current text. Not legal advice.