Texas § BO.251.001 - DEFINITIONS
Full text of Texas The Texas Constitution § BO.251.001 — DEFINITIONS, with citation guidance and answers to common questions.
§ BO.251.001. DEFINITIONS
DEFINITIONS. In this chapter: (1) "Cooperative basis" means that net savings, after payment of any investment dividends or after provision for separate funds has been made as required or authorized by law, the certificate of formation, or bylaws, are: (A) allocated or distributed to a member patron or to each patron in proportion to patronage; or (B) retained by the entity for: (i) actual or potential expansion of the entity's services; (ii) the reduction of charges to patrons; or (iii) any other purpose consistent with the entity's nonprofit character. (2) "Invested capital" means funds invested in a cooperative association by an investor with the expectation of receiving an investment dividend. (3) "Investment dividend" means the return on invested capital or on membership capital derived from the net savings of the cooperative association. (4) "Membership capital" means the funds of a cooperative association derived from members of the cooperative association generally as a requirement of membership or in lieu of patronage dividends. The term does not include deposits or loans from members. (5) "Net savings" means the total income of a cooperative association less the costs of operation. (6) "Patronage dividend" means a share of the net savings distributed among members of the cooperative association on the basis of patronage, as provided by the certificate of formation. (7) "Savings returns" means the amount returned by a cooperative association to patrons of a cooperative association in proportion to patronage or otherwise. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Frequently Asked Questions About Texas § BO.251.001
What does The Texas Constitution § BO.251.001 cover?
Section BO.251.001 ("DEFINITIONS") is part of the The Texas Constitution, the codified statutory law of Texas. 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 Texas § BO.251.001?
A common citation format is "The Texas Constitution § BO.251.001" (Texas). 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 Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § BO.251.001 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas 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 Texas.