{"data":{"id":"us-tx/tex.-agriculture-code-51.007","jurisdiction":"us-tx","citation":"Tex. Agriculture Code § 51.007","heading":"NONPROFIT CORPORATION; DIVISION OF PROFITS.","body":"(a) A society is a cooperative and a nonprofit corporation.\n(b) A society, on approval of its directors in accordance with its bylaws, may:\n(1) transfer its profits to its surplus fund; or\n(2) divide its profits among its members, in proportion to each member's cash contribution to the society's working capital and patronage to the society.\nActs 1981, 67th Leg., p. 1098, ch. 388, Sec. 1, eff. Sept. 1, 1981.","path":["AGRICULTURE CODE","TITLE 4. AGRICULTURAL ORGANIZATIONS","CHAPTER 51. FARMERS' COOPERATIVE SOCIETIES"],"source_url":"https://statutes.capitol.texas.gov/Docs/AG/htm/AG.51.htm#51.007","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:50Z","sha256":"bc7eff74f43a6af839930083391e3f066a2e7fd16b84b465156effb9016d1521","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-agriculture-code-51.006","next":"us-tx/tex.-agriculture-code-51.008"},"notice":"GroundRules: Original legal text. Not legal advice."}