Public Utilities Code § 3090

ARTICLE 5. Bylaws

Current as of September 28, 2026Pub. Util. Code, § 3090Official source ↗

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.