Code of Virginia - Title 56 Public Service Companies - Chapter 16 Telephone Cooperatives Act
- 56-485 Short title
This chapter may be cited as the "Telephone Cooperatives Act." (1950, p. 588; 1956, c. 434.) ...
- 56-486 Who may form cooperative; purpose
Any number of natural persons not less than five may, by executing, filing and recording a certificate as hereinafter set forth, form a cooperative, either ...
- 56-487 Definitions
The following terms, whenever used or referred to in this chapter, shall have the following meanings, unless a different meaning appears from the context: (1) ...
- 56-488 Certificate of incorporation
The certificate of incorporation shall be entitled and endorsed "Certificate of Incorporation of the . . . . . . . . Telephone Co-operative" (the ...
- 56-489 Limitation of use of words "telephone cooperative"
The words "telephone cooperative" shall not be used in the corporate names of corporations other than those formed pursuant to the provisions of this chapter. ...
- 56-490 Filing certificate of incorporation
The natural persons executing the certificate of incorporation shall be residents of the territory in which the principal operations of the cooperative are to be ...
- 56-491 Board of directors; officers
Every cooperative formed hereunder shall have a board of directors of five or more members, which shall constitute the governing body of the cooperative. The ...
- 56-492 Powers of board of directors
The board of directors of a cooperative shall have power to do all things necessary and incidental in conducting the business of the cooperative, including ...
- 56-493 Membership; voting; nonprofit operation
A cooperative may issue to its members certificates of membership. Only members shall be entitled to vote at the meetings of the members of the ...
- 56-494 Service to members; to nonmembers
Except as hereinafter provided, the corporate purpose of each cooperative formed hereunder shall be to render service to its members only, and no person shall ...
- 56-495 Powers granted corporation
Each corporation formed under this chapter shall have power to do any and all acts or things necessary or incidental for carrying out the purpose ...
- 56-496 Disposition of property
No cooperative may sell, lease or dispose of any of its property other than property which, in the judgment of the board, is neither necessary ...
- 56-497 Issue of obligations
A cooperative shall have the power and is hereby authorized, from time to time, to issue its obligations in anticipation of its revenues for any ...
- 56-498 Covenants
In connection with the issuance of any obligations a cooperative may make covenants or agreements and do any and all acts or things that a ...
- 56-499 Purchase of own obligations
A cooperative shall have power out of any funds available therefor to purchase any obligations issued by it at a price not exceeding the principal ...
- 56-500 Consolidation or merger
Any two or more cooperatives created under the provisions of this chapter may consolidate or merge into a single corporation in the manner prescribed by ...
- 56-501 , 56-501.01
Repealed by Acts 1998, c. 252. ...
- 56-501.1 Payment of certain patronage capital to spouse or next of kin of deceased person
When there is held by any telephone cooperative, engaged in the business of furnishing telephone service, any patronage capital to the credit of a deceased ...
- 56-502 Regulation by State Corporation Commission
Every cooperative organized under this chapter shall be subject to the jurisdiction of the State Corporation Commission with respect to telephone services and facilities in ...
- 56-503 Dissolution
A cooperative created hereunder may be dissolved in the manner prescribed by Article 16 (§ 13.1-742 et seq.) of Chapter 9 or Article 13 (§ ...
- 56-504 Charter amendments
A cooperative created hereunder may amend its certificate of incorporation to change its corporate name, to increase or reduce the number of its directors or ...
- 56-505 Charter fees
The general laws of Virginia relating to fees and other charges in connection with issuing charters, amendments thereto, consolidations and dissolutions of corporations organized on ...
- 56-506 Construction of chapter; conflicting laws
This chapter is to be liberally construed and the enumeration of any object, purpose, power, method or thing shall not be deemed to exclude like ...
- 56-507 Adoption of provisions by existing corporation
Any Virginia corporation engaged in the furnishing of telephone service in the Commonwealth may come under the provisions of this chapter by filing with the ...
- 56-508 Extension of service to territory not being served
If, from any rural territory not now being served, application be made to the State Corporation Commission by a group of five or more persons, ...
Last modified: April 3, 2009