Use of revenues

The revenues of the cooperative shall be devoted to: (1) The payment of operating and maintenance expenses, the rendition of efficient service, and the creation of adequate depreciation reserves sufficient to maintain the investment in facilities; (2) The payment of the principal and interest on outstanding obligations; (3) The payment of dividends on stock issued and outstanding, if any; (4) The creation of such reserves for improvements, construction, and contingencies as the board from time to time may prescribe; and (5) Any other purposes authorized by law. Acts 1951, No. 51, § 27; A.S.A. 1947, § 77-1627; Acts 1989, No. 437, § 18. The revenues of the cooperative shall be devoted to: (1) The payment of operating and maintenance expenses, the rendition of efficient service, and the creation of adequate depreciation reserves sufficient to maintain the investment in facilities; (2) The payment of the principal and interest on outstanding obligations; (3) The payment of dividends on stock issued and outstanding, if any; (4) The creation of such reserves for improvements, construction, and contingencies as the board from time to time may prescribe; and (5) Any other purposes authorized by law. Acts 1951, No. 51, § 27; A.S.A. 1947, § 77-1627; Acts 1989, No. 437, § 18.