(a) Organization. Cooperative, nonprofit membership corporations may be organized under this subchapter for the purpose of any one (1) or more of the following:
(1) The furnishing of electricity to persons;
(2) Assisting in the wiring of the premises of persons in rural areas or the acquisition, supply, or installation of electrical or plumbing equipment therein; and
(3) The furnishing of electricity, wiring facilities, or electrical or plumbing equipment or services to any other corporation organized under this subchapter or to the members thereof.
(b) Powers. Once properly organized pursuant to subsection (a) of this section, a corporation may engage in any other lawful business activity directly or through one (1) or more affiliates, which its board of directors determines to be beneficial to its members or nonmembers.
Section: Previous 23-18-302 23-18-303 23-18-304 23-18-305 23-18-306 23-18-307 23-18-308 23-18-309 23-18-310 23-18-311 23-18-312 23-18-313 23-18-314 23-18-315 NextLast modified: November 15, 2016