Fla. Stat. 425.21
Refunds to members

(1)

To defray expenses of the cooperative and of the operation and maintenance of its facilities during such fiscal year;

(2)

To pay interest and principal obligations of the cooperative coming due in such fiscal year;

(3)

To finance, or to provide a reserve for the financing of, the construction or acquisition by the cooperative of additional facilities to the extent determined by the board of trustees;

(4)

To provide a reasonable reserve for working capital;

(5)

To provide a reserve for the payment of indebtedness of the cooperative maturing more than 1 year after the date of the incurrence of such indebtedness in an amount not less than the total of the interest and principal payments in respect thereof required to be made during the next following fiscal year; and

(6)

To provide a fund for education in cooperation and for the dissemination of information concerning the effective use of electric energy and other services made available by the cooperative,

Source: Section 425.21 — Refunds to members, https://www.­flsenate.­gov/Laws/Statutes/2024/0425.­21 (accessed Aug. 7, 2025).

Current through Fall 2025

§ 425.21. Refunds to members's source at flsenate​.gov