HERBERT R. O'CONOR, GOVERNOR. 1@67

that all debts, obligations and liabilities of the cooperative
have been paid and discharged or that adequate provision has
been made therefor; and (6) that the preceding provisions of
this subsection have been duly complied with. The president
or vice-president executing the articles of dissolution shall
make and annex thereto an affidavit stating that the state-
ments made therein are true.

481. Filing of Articles. Articles of incorporation, amend-
ment, consolidation, merger, conversion, or dissolution, when
executed and acknowledged and accompanied by such affi-
davits as may be required by applicable provisions of this
subheading, shall be presented to the State Tax Commission
for filing in the records of its office. If the State Tax Com-
mission shall find that the articles presented conform to the
requirements of this subheading, it shall, upon the payment
of the fees as in this subheading provided, file such articles in
the records of its office and upon such filing the incorporation,
amendment, consolidation, merger, conversion, or dissolution
provided for therein shall be in effect. The provisions of this
section shall also apply to certificates of election to dissolve
and affidavits executed in connection therewith pursuant to
subsection (b) of section 480 of this subheading.

482. Refunds to Members. Revenues of a cooperative for
any fiscal year in excess of the amount thereof necessary:

(a) To defray the expenses of the operation and mainten-
ance of the facilities of the cooperative during such fiscal
year;

(b) To pay interest and principal obligations of the co-
operative coming due in such fiscal year;

(c) To finance, or to provide a reserve for the financing
of, the construction or acquisition by the cooperative of addi-
tional facilities to the extent determined by the board of
directors;

(d) To provide a reasonable reserve for working capital;

(e) To provide a reserve for the payment of indebtedness
of the cooperative in an amount not less than the total of
the interest and principal payments in respect thereof re-
quired to be made during the next following fiscal year;
and

(f) To provide a fund (hereinafter designated the "educa-
tion fund") for education in cooperation and for the dis-
semination of information concerning the effective use of elec-
tric energy and other services made available by the coopera-
tive, shall unless otherwise determined by a vote of the mem-
bers, be distributed by the cooperative to its members and to
other persons to whom the cooperative supplies electric energy