Patronage capital for cooperative electric associations and cooperative telephone associations defined

The term "patronage capital" includes any capital credit, patronage dividend, or patronage refund allocated by a cooperative electric association or cooperative telephone association to a member or patron thereof.

Source: L. 90: Entire section added, p. 413, § 1, effective March 9. L. 94: Entire section amended, p. 330, § 1, effective March 29.

ANNOTATION

This section describes the allocation of patronage capital to members based on their consumption of electric services and does not limit the board of directors' use of patronage capital. Bontrager v. La Plata Elec. Ass'n, 68 P.3d 555 (Colo. App. 2003).