Indiana § 15-12-1-30 - Distribution of dividends
Full text of Indiana Indiana Code § 15-12-1-30 — Distribution of dividends, with citation guidance and answers to common questions.
§ 15-12-1-30. Distribution of dividends
Sec. 30. (a) The net earnings or savings of an association from the association's marketing activities, purchasing activities, or marketing and purchasing activities that exceed the amounts needed to restore a deficit, to pay dividends on outstanding stock, or to establish or provide for additions to reserves or surplus, or both, must be distributed, unless otherwise provided by the bylaws, to the patrons of the association on a patronage basis. If provided in the bylaws, the distribution of the net earnings or savings from the marketing activities, purchasing activities, or marketing and purchasing activities that exceed the amounts needed to restore a deficit, to pay dividends on outstanding stock, or to establish or provide for additions to reserves or surplus, or both, may be made at different rates for members and nonmembers, or may be restricted only to members, or only to members and those patrons with whom the association has contracted to pay patronage refunds, but all the distributions must be made on a patronage basis.
(b) If the reserves or surplus of an association are distributed at any time, the reserves or surplus must be distributed on a patronage basis as provided by the bylaws of the association.
[Pre-2008 Recodification Citations: subsection (a) formerly 15-7-1-13(f); subsection (b) formerly 15-7-1-13(g).]
As added by P.L.2-2008, SEC.3.
Source: official Indiana text · Last verified 2026-08-27
Frequently Asked Questions About Indiana § 15-12-1-30
What does Indiana Code § 15-12-1-30 cover?
Section 15-12-1-30 ("Distribution of dividends") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 15-12-1-30?
A common citation format is "Indiana Code § 15-12-1-30" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 15-12-1-30 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.