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23-75-115. Use of surplus.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-75-115. Use of surplus.
Any surplus in excess of all reserves established by the directors of the corporation and shown in the annual report of a corporation may be used by the corporation for the following purposes in the order of priority shown:
(1) To liquidate on a pro rata basis any losses incurred by hospitals, physicians, and surgeons, or other similar institutions or persons, upon the settlement of bills with the corporation in any previous years;
(2) To return the original working capital contribution to the corporation, or any part thereof, on a pro rata basis; and
(3) To reduce rates charged subscribers or to expand the services rendered to them.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-75-115
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-75-115
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 41e6f535bcd0c31060df8fc939538791a6141ef7cfb0b70c5caa17d7f92a37da
Source location: content.xml paragraph 43384
Stored source content
23-75-115. Use of surplus.
Any surplus in excess of all reserves established by the directors of the corporation and shown in the annual report of a corporation may be used by the corporation for the following purposes in the order of priority shown:
(1) To liquidate on a pro rata basis any losses incurred by hospitals, physicians, and surgeons, or other similar institutions or persons, upon the settlement of bills with the corporation in any previous years;
(2) To return the original working capital contribution to the corporation, or any part thereof, on a pro rata basis; and
(3) To reduce rates charged subscribers or to expand the services rendered to them.
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