Tennessee Code Title 48. Corporations and Associations § 48-69-113

(1) Defray expenses of the G&T cooperative, including the operation and maintenance of its facilities during the fiscal year;

(2) Pay interest and principal obligations of the G&T cooperative coming due in the fiscal year;

(3) Finance, or to provide a reserve to finance, the construction or acquisition by the G&T cooperative of additional facilities to the extent determined by the board;

(4) Provide a reasonable reserve for working capital;

(5) Provide a major maintenance reserve; and

(6) Provide a reserve for the payment of indebtedness of the G&T cooperative maturing more than one (1) year after the date of the incurrence of the indebtedness in an amount up to the maximum amount of interest and principal payments to be made during any future fiscal year.

(1) As patronage refunds prorated in accordance with the patronage of the cooperative by the respective patrons paid for during or with respect to the fiscal year;

(2) By way of general reductions of rates or other charges;

(3) By crediting patrons with having furnished the cooperative capital in amounts equal to the amounts of their patronage not refunded pursuant to subdivision (b)(1) and not used for general reduction of rates or other changes pursuant to subdivision (b)(2), all or any portion of the capital to be redeemable and to be retired at such later time as the board in its sole discretion determines that such will not impair the cooperative's financial condition and will be in the cooperative's best interests; or

(4) By any combination of the methods described in subdivisions (b)(1)-(3).