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Texas Utilities Code - Section 161.121. General Powers

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§ 161.121. GENERAL POWERS.  An electric cooperative may:                    
		(1)  sue and be sued in its corporate name;                                   
		(2)  adopt and alter a corporate seal and use the seal 
or a facsimile of the seal as required by law;
		(3)  acquire, own, hold, maintain, exchange, or use 
property or an interest in property, including plants, buildings, 
works, machinery, supplies, equipment, apparatus, and transmission 
and distribution lines or systems that are necessary, convenient, 
or useful;
		(4)  dispose of, mortgage, or lease as lessor any of its 
property or assets;
		(5)  borrow money and otherwise contract indebtedness, 
issue obligations for its indebtedness, and secure the payment of 
indebtedness by mortgage, pledge, or deed of trust on any or all of 
its property or revenue;
		(6)  accept gifts or grants of money, services, or 
property;                
		(7)  make any contracts necessary or convenient for the 
exercise of the powers granted by this chapter;
		(8)  conduct its business and have offices inside or 
outside this state;    
		(9)  adopt and amend bylaws not inconsistent with the 
articles of incorporation for the administration and regulation of 
the affairs of the cooperative;  and
		(10)  perform any other acts for the cooperative or its 
members or for another electric cooperative or its members, and 
exercise any other power, that may be necessary, convenient, or 
appropriate to accomplish the purpose for which the cooperative is 
organized, including other or additional purposes that benefit 
members and nonmembers, either directly or through affiliates, 
described in Section A, Article 2.01, Texas Non-Profit Corporation 
Act (Article 1396-2.01, Vernon's Texas Civil Statutes).

Acts 1997, 75th Leg., ch. 166, § 1, eff. Sept. 1, 1997.  Amended 
by Acts 1999, 76th Leg., ch. 62, § 18.15(a), eff. Sept. 1, 1999.

Last modified: August 10, 2007