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Texas Utilities Code - Chapter 161 Electric Cooperative CorporationsLegal Research Home > Texas Lawyer > Utilities Code > Texas Utilities Code - Chapter 161 Electric Cooperative Corporations This chapter may be cited as the Electric Cooperative Corporation Act. Acts 1997, 75th Leg., ch. 166, § 1, eff. Sept. 1, 1997. ... In this chapter: (1) "Acquire" means and includes construct, acquire by purchase, lease, devise, or gift, or other mode of acquisition. (2) "Board" means the ... This chapter shall be liberally construed. The enumeration of a purpose, power, method, or thing does not exclude similar purposes, powers, methods, or things. Acts ... A corporation organized under the laws of this state or authorized to do business in this state may not use the words "electric cooperative" in ... This chapter is complete in itself and is controlling. Acts 1997, 75th Leg., ch. 166, § 1, eff. Sept. 1, 1997. ... (a) Three or more individuals may act as incorporators of an electric cooperative by executing articles of incorporation as provided by this chapter. (b) An ... An electric cooperative may be created as a perpetual corporation. Acts 1997, 75th Leg., ch. 166, § 1, eff. Sept. 1, 1997. ... The name of an electric cooperative must: (1) include the words "Electric Cooperative"; (2) include the term "Corporation," "Incorporated," "Inc.," "Association," or "Company"; and (3) ... (a) The articles of incorporation of an electric cooperative must state: (1) the name of the cooperative; (2) the purpose for which the cooperative is ... (a) The secretary of state shall receive articles of incorporation of an electric cooperative if the incorporators of the cooperative: (1) apply for filing the ... (a) If the articles of incorporation of an electric cooperative expire by limitation, the cooperative, with the consent of a majority of its members, may ... (a) After the certificate of incorporation is issued, the incorporators of an electric cooperative shall meet to adopt bylaws, elect officers, and transact other business ... (a) An electric cooperative that files defective articles of incorporation or fails to take an action necessary to perfect its corporate organization may: (1) file ... (a) An electric cooperative shall operate without profit to its members. (b) The rates, fees, rents, and other charges for electric energy and other facilities, ... A member is not liable for a debt of an electric cooperative except for: (1) a debt contracted between the member and the cooperative; or ... Not later than May 1 of each year, each electric cooperative shall pay to the secretary of state a license fee of $10. Acts 1997, ... An electric cooperative is exempt from all excise taxes but is exempt from the franchise tax imposed by Chapter 171, Tax Code, only if the ... The Securities Act (Article 581-1 et seq., Vernon's Texas Civil Statutes) does not apply to: (1) an obligation issued to secure a debt of an ... (a) The board may adopt, amend, or repeal the bylaws of the cooperative. (b) The bylaws may contain any provision for the regulation and management ... (a) A person is eligible to become a member of an electric cooperative if the person has a dwelling, structure, apparatus, or point of delivery ... (a) An electric cooperative shall issue a certificate of membership to a member who pays the member's membership fee in full. (b) A certificate of ... (a) An electric cooperative may hold a meeting of its members at a place provided in the bylaws. If the bylaws do not provide for ... (a) Written notice of each meeting of the members shall be delivered to each member of record, either personally or by mail, not earlier than ... Unless otherwise provided by the articles of incorporation, a quorum for the transaction of business at a meeting of the members of an electric cooperative ... Each member present at a meeting of the members is entitled to one vote on each matter submitted to a vote at the meeting. The ... (a) The business and affairs of an electric cooperative shall be managed by a board of directors. The board consists of at least three directors. ... (a) The incorporators of an electric cooperative named in the articles of incorporation shall serve as directors until the first annual meeting of the members, ... A director of an electric cooperative is entitled to the compensation and reimbursement for expenses actually and necessarily incurred by the director as provided by ... (a) A majority of the directors is a quorum unless the articles of incorporation or the bylaws provide that a greater number of the directors ... (a) The board shall hold a regular or special board meeting at the place and on the notice prescribed by the bylaws. (b) The attendance ... (a) The board shall elect from the board's membership a president, a vice president, a secretary, and a treasurer. The terms of office, powers, duties, ... (a) The bylaws of an electric cooperative may authorize the board to elect an executive committee from the board's membership. (b) The board may delegate ... An electric cooperative may indemnify and provide indemnity insurance in the same manner and to the same extent as a nonprofit corporation under Article 2.22A, ... A cooperative or nonprofit corporation or association organized under any other law of this state for the purpose of engaging in rural electrification may, by ... 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 ... An electric cooperative may engage in rural electrification by: (1) furnishing electric energy to any person for delivery to a dwelling, structure, apparatus, or point ... An electric cooperative may: (1) generate, acquire, and accumulate electric energy and transmit, distribute, sell, furnish, and dispose of that electric energy to its members ... An electric cooperative may generate, acquire, and accumulate electric energy and transmit, distribute, sell, furnish, and dispose of that electric energy to any of the ... An electric cooperative may exercise the power of eminent domain in the manner provided by state law for acquiring private property for public use. The ... (a) An electric cooperative may amend its articles of incorporation by a majority vote of the members of the cooperative present in person or represented ... (a) Articles of amendment of an electric cooperative must be: (1) signed by the president or vice president and attested by the secretary, certifying to ... (a) Two or more electric cooperatives may enter into an agreement to consolidate the cooperatives. The agreement must state: (1) the terms of the consolidation; ... (a) The articles of consolidation must: (1) conform substantially to original articles of incorporation of an electric cooperative; and (2) be executed, acknowledged, filed, and ... (a) An electric cooperative may be dissolved by a majority vote of its members present in person or represented by proxy at a regular meeting ... (a) A dissolved electric cooperative continues to exist to: (1) satisfy existing liabilities or obligations; (2) collect or liquidate its assets; and (3) take any ... Assets of a dissolved electric cooperative that remain after all liabilities or obligations of the cooperative have been satisfied shall be distributed pro rata to ... (a) An electric cooperative that purports to have been incorporated or reincorporated under this chapter but that has not complied with a requirement for legal ... 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Last modified: August 10, 2007 |