{"data":{"id":"us-ok/okla.-stat.-tit.-18-18-437.19","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 18, § 18-437.19","heading":"Refunds to members","body":"Revenues of a cooperative for any fiscal year in excess of the\n\namount thereof necessary:\n\n(a) To defray expenses of the cooperative and of the operation\n\nand maintenance of its facilities during such fiscal year;\n\n(b) To pay interest and principal obligations of the cooperative\n\ncoming due in such fiscal year;\n\n(c) To finance, or to provide a reserve for the financing of,\n\nthe construction or acquisition by the cooperative of additional\n\nfacilities to the extent determined by the board of trustees;\n\n(d) To provide a reasonable reserve for working capital;\n\n(e) To provide a reserve for the payment of indebtedness of the\n\ncooperative maturing more than one (1) year after the date of the\n\nincurrence of such indebtedness in an amount not less than the total\n\nof the interest and principal payments in respect thereof required\n\nto be made during the next following fiscal year; and\n\n(f) To provide a fund for education in cooperation and for the\n\ndissemination of information concerning the effective use of\n\nelectric energy and other services made available by the\n\ncooperative, shall, unless otherwise determined by a vote of the\n\nmembers, be distributed by the cooperative to its members as\n\npatronage refunds prorated in accordance with the patronage of the\n\ncooperative by the respective members paid for during such fiscal\n\nyear. Nothing herein contained shall be construed to prohibit the\n\npayment by a cooperative of all or any part of its indebtedness\n\nprior to the date when the same shall become due.","path":["OK Code","Title 18"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os18.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"690b39b98cb3410292cf65c45a5aa81b79d830cdb5e0fd92b9eef77090e05ffa","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-18-18-437.18","next":"us-ok/okla.-stat.-tit.-18-18-437.2"},"notice":"GroundRules: Original legal text. Not legal advice."}