Section 47-16-46 - Distributions to patrons

47-16-46. Distributions to patrons.Unless the articles or bylaws of a cooperative otherwise expressly provide, none of the remainder of the net proceeds after distributions and payments pursuant to §§47-16-44 and 47-16-45 shall constitute income of the cooperative but all thereof shall be distributed and paid to patrons, whether members or not, as provided by §§47-16-47 to 47-16-49, inclusive. Source: SDC 1939, §11.1131 (3) as enacted by SL 1965, ch 23, §1.