Statute · California Public Utilities Code
Cal. Pub. Util. Code § 3090 — Bylaws
Cal. Pub. Util. Code § 3090
- Type
- Statute
- Source
- California Public Utilities Code
- Jurisdiction
- California
- Current through
- Nov 2, 2026 (California Legislative Counsel)
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.
Citator
Cal. Pub. Util. Code § 3090 — Bylaws is in force in the current edition of the Code, and nothing recorded condemns it.
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.