North Carolina General Statutes Chapter 117 Electrification

Article 1 - Rural Electrification Authority.

N.C. Gen. Stat. § 117-1. Rural Electrification Authority created; appointments; terms of members
An agency to be known as the North Carolina Rural Electrification Authority is hereby created as an agency of the State of North Carolina,...
N.C. Gen. Stat. § 117-2. Powers
The purpose of said North Carolina Rural Electrification Authority is to secure electrical service for the rural districts of the State where service is...
N.C. Gen. Stat. § 117-2.1. Additional powers
In addition to the powers provided in G.S. 117-2, the Authority is empowered, authorized and directed to make, promulgate and implement plans and programs...
N.C. Gen. Stat. § 117-3. Authority not granted power to fix rates or order line extensions; right of suggestion and petition
The Authority itself shall not be a rate-making body, and shall have no power to fix the rates or service charges, or to order...
N.C. Gen. Stat. § 117-3.1. Regulatory fee
(a) Fee imposed. - It is the policy of the State of North Carolina to provide fair regulation of electric and telephone membership corporations...
N.C. Gen. Stat. § 117-4. Organization meeting of Authority; chairman and secretary
Promptly after their appointment the Authority shall meet and organize at such meeting, and at the first meeting of each year thereafter, the members...
N.C. Gen. Stat. § 117-5. Compensation and expenses
All members of the Authority, except the secretary, shall receive as compensation for their services per diem and actual expenses incurred while in the...

Article 2 - Electric Membership Corporations.

N.C. Gen. Stat. § 117-6. Title of Article
This Article may be cited as the "Electric Membership Corporation Act." (1935, c. 291, s. 1.)
N.C. Gen. Stat. § 117-7. Definitions
The following terms, whenever used or referred to in this Article, shall have the following meanings, unless a different meaning clearly appears from the...
N.C. Gen. Stat. § 117-8. Formation in unserved communities; filing application with Rural Electrification Authority
When any number of persons residing in the community not served, or inadequately served, with electrical energy desire to secure electrical energy for their...
N.C. Gen. Stat. § 117-9. Issuance of privilege for formation of such corporation
Whenever any such application is made by as many as five members of the community, the North Carolina Rural Electrification Authority shall cause a...
N.C. Gen. Stat. § 117-10. Formation authorized
Any number of natural persons not less than three may, by executing, filing and recording a certificate as hereinafter provided, form a corporation not...
N.C. Gen. Stat. § 117-10.1. Municipal franchises
An electric membership corporation shall be eligible to receive a franchise pursuant to G.S. 160-2(6) from any city or town: (1) In which such...
N.C. Gen. Stat. § 117-10.2. Restriction on municipal service
Except as otherwise provided in this section, no electric membership corporation shall furnish electric service to, or within the limits of, any incorporated city...
N.C. Gen. Stat. § 117-10.3. Repealed by Session Laws 2007-419, s. 3, effective August 21, 2007
N.C. Gen. Stat. § 117-11. Contents of certificate of incorporation
(a) Required Provisions. - The certificate of incorporation shall be entitled and endorsed "Certificate of Incorporation of ______ Electric Membership Corporation" (the blank space...
N.C. Gen. Stat. § 117-12. Execution and filing of certificate of incorporation by residents of territory to be served
The natural persons executing the certificate of incorporation shall be residents of the territory in which the principal operations of the corporation are to...
N.C. Gen. Stat. § 117-13. Board of directors; compensation; president and secretary
Each corporation formed under this Article shall have a board of directors, in which management of the affairs of the corporation is vested. The...
N.C. Gen. Stat. § 117-14. Powers of board
The board shall have power to do all things necessary or convenient in conducting the business of a corporation, including, but not limited to:...
N.C. Gen. Stat. § 117-15. Certificates of membership
A corporation may issue to its members certificates of membership and each member shall be entitled to only one vote at the meetings of...
N.C. Gen. Stat. § 117-16. Corporate purpose; terms and conditions of membership
The corporate purpose of each corporation formed hereunder shall be to render service to its members only, and no person shall become or remain...
N.C. Gen. Stat. § 117-16.1. Discrimination prohibited
No electric membership corporation shall, as to rates or services, make or grant any unreasonable preference or advantage to any member or subject any...
N.C. Gen. Stat. § 117-17. General grant of powers
Each corporation formed under this Article is hereby vested with all power necessary or requisite for the accomplishment of its corporate purpose and capable...
N.C. Gen. Stat. § 117-18. Specific grant of powers
Subject only to the Constitution of the State, a corporation created under the provisions of this Article shall have power to do any and...
N.C. Gen. Stat. § 117-18.1. Subsidiary business activities
(a) Electric membership corporations may form, organize, acquire, hold, dispose of, and operate any interest up to and including full controlling interest in separate...
N.C. Gen. Stat. § 117-19. Taxes and assessments
(a) From and after April 20, 1965, no electric membership corporation heretofore or hereafter organized, reorganized, or domesticated under the provisions of this Chapter...
N.C. Gen. Stat. § 117-20. Encumbrance, sale, etc., of property
No corporation may sell, mortgage, lease or otherwise encumber or dispose of any of its property (other than merchandise and property which lie within...
N.C. Gen. Stat. § 117-21. Issuance of bonds
A corporation formed hereunder shall have power and is hereby authorized, from time to time, to issue its bonds in anticipation of its revenue...
N.C. Gen. Stat. § 117-22. Covenants or agreements for security of bonds
In connection with the issuance of any bonds, a corporation may make covenants or agreements and do any and all acts or things that...
N.C. Gen. Stat. § 117-23. Purchase and cancellation of bonds
A corporation shall have power out of any funds available therefor to purchase any bonds issued by it at a price not exceeding the...
N.C. Gen. Stat. § 117-24. Dissolution
Any corporation created hereunder may be dissolved by filing, as hereinafter provided, a certificate which shall be entitled and endorsed "Certificate of Dissolution of...
N.C. Gen. Stat. § 117-25. Amendment of certificate of incorporation
A corporation created hereunder may amend its certificate of incorporation to change its corporate name, to increase or reduce the number of its directors...
N.C. Gen. Stat. § 117-26. Application for grant or loan from governmental agency
Whenever any corporation organized hereunder desires to secure a grant or loan from any agency of the United States government now in existence or...
N.C. Gen. Stat. § 117-27. Repealed by Session Laws 1965, c. 287, s. 15

Article 3 - Miscellaneous Provisions.

N.C. Gen. Stat. § 117-28. Foreign corporations; domestication; rights and privileges
Any electric or telephone membership corporation created and existing under and by virtue of the laws of any adjoining state, which corporation desires to...

Article 4 - Telephone Service and Telephone Membership Corporations.

N.C. Gen. Stat. § 117-29. Assistance from Rural Electrification Authority in procuring adequate telephone service
Any number of persons residing in any rural community who are not provided with telephone service or are inadequately provided with same, may make...
N.C. Gen. Stat. § 117-30. Telephone membership corporations
(a) In the event it is ascertained by the Rural Electrification Authority that the community or communities referred to in the foregoing section G.S....
N.C. Gen. Stat. § 117-31. Power of Rural Electrification Authority to prosecute requested investigations
In investigating the application filed with the Rural Electrification Authority under the provisions of G.S. 117-30 of this Article, the Rural Electrification Authority shall...
N.C. Gen. Stat. § 117-32. Loans from federal agencies; authority of county, etc., to engage in telephone business
Whenever any corporation organized under the provisions of this Article desires to secure a grant or loan from any agency of the United States...
N.C. Gen. Stat. § 117-33. Declared public agency of State; taxes and assessments
A telephone membership corporation heretofore or hereafter organized under this Article shall be, and is hereby declared to be a public agency, and shall...
N.C. Gen. Stat. § 117-34. Dissolution
Any telephone membership corporation created under this Article may be dissolved by filing, as hereinafter provided, a certificate which shall be entitled and endorsed...
N.C. Gen. Stat. § 117-35. Article complete in itself and controlling
Article 4 is complete in itself and shall be controlling. The provisions of any other law, general, special, or local except as provided in...
N.C. Gen. Stat. § 117-36 through 117-40. Reserved for future codification purposes

Article 5 - Consolidation and Merger.

N.C. Gen. Stat. § 117-41. Consolidation
(a) Any two or more electric membership corporations or any two or more telephone membership corporations, organized and operating under this Chapter (each of...
N.C. Gen. Stat. § 117-42. Merger
(a) Any one or more electric membership corporations or any one or more telephone membership corporations, organized and operating under this Chapter (each of...
N.C. Gen. Stat. § 117-43. Filing and recording of articles of consolidation or merger
Articles of consolidation or merger shall be filed with the Secretary of State, who shall forthwith prepare one or more certified copies thereof and...
N.C. Gen. Stat. § 117-44. Effect of consolidation or merger
Upon compliance with the provisions of G.S. 117-44: (1) a. In the case of a consolidation, the existence of the consolidating corporations shall cease...
N.C. Gen. Stat. § 117-45. Validation
No provision of Article 5 nor any provision thereof shall, or shall be construed to, express or imply the invalidity or invalidation of the...

Article 6 - Indemnification.

N.C. Gen. Stat. § 117-46. Indemnification of directors, officers, employees, or agents
The powers, authority and requirements as to indemnification, payment of expenses, and purchase of liability insurance for directors, officers, employees and agents, as set...

Last modified: March 23, 2014