California Legal Codes and Statutes

§ 3090

Added by Stats. 1987, Ch. 680, Sec. 1.

The bylaws may prescribe the amount of any dividends which may be declared on the stock or membership capital, which shall not exceed 8 percent per annum, shall be in the nature of interest, and shall not affect the nonprofit character of any association.

Cite this section

Cal. Pub. Util. Code § 3090 (2026)
https://ca.codecond.com/codes/puc/division-1-regulation-of-public-utilities/part-4-production-and-transmission-of-public-utility-commodities-and-services/chapter-1-gas-producers-cooperative-associations/article-5-bylaws/section-3090

Other sections in Article 5 - Bylaws

§ 3081§ 3082§ 3083§ 3084§ 3085§ 3086§ 3087§ 3088§ 3089§ 3090§ 3091§ 3092

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