47-16-46. Distributions to patrons.
58 words·~1 min read·
/sd/title-47/chapter-47-16/47-16-46A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Unless the articles or bylaws of a cooperative otherwise expressly provide, none of the remainder of the net proceeds after distributions and payments pursuant to §§ 47-16-44 and 47-16-45 shall constitute income of the cooperative but all thereof shall be distributed and paid to patrons, whether members or not, as provided by §§ 47-16-47 to 47-16-49 , inclusive.