The members may at any meeting control the amount to be allocated to surplus or educational fund, within the limits specified in section 499.30 , or the amount to be allocated to reserves. [C35, §8512-g31; C39, § 8512.31; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §499.31 ]