Assets of a dissolved electric cooperative that remain after all liabilities or obligations of the cooperative have been satisfied shall be distributed pro rata to the members of the cooperative who were members when the certificate of dissolution was filed.
Tex. Util. Code § 161.253
DISTRIBUTION OF NET ASSETS ON DISSOLUTION
Known as the Electric Cooperative Corporation Act
The act spans §§ 161–161 (47 sections).
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.