§ 65-29-123. Nonliability of Members for Debts of Cooperative
The private property of the members of a cooperative shall be exempt from execution for the debts of the cooperative, and no member shall be liable or responsible for any debts of the cooperative.
§ 65-29-124. Mortgages
Any mortgage, deed of trust, or other instrument executed by a cooperative or foreign corporation transacting business in this state pursuant to this chapter, which, by its terms, creates a lien upon real and personal property then owned or after-acquired, and which is recorded as a mortgage of real property in any county in which […]
§ 65-29-125. Exercise of Eminent Domain
No property which is owned or held for public use, nor any interest therein, shall be condemned pursuant to the authority granted in § 65-29-104 if in the judgment of the court the condemnation of such property or interest therein will obstruct, prevent, burden, interfere with, or unduly inconvenience the continued use of such property […]
§ 65-29-116. Effect of Consolidation or Merger
The effect of consolidation or merger shall be as follows: The several cooperatives, parties to the consolidation or merger, shall be a single cooperative, which, in the case of a consolidation, shall be the new cooperative provided for in the articles of consolidation, and, in the case of a merger, shall be that cooperative designated […]
§ 65-29-117. Conversion of Existing Corporations
Any corporation, private or not-for-profit organized under the laws of this state for the purpose, among others, of supplying telephone service to its subscribers may be converted into a cooperative and become subject to this chapter with the same effect as if originally organized under this chapter by complying with the following requirements: The proposition […]
§ 65-29-118. Dissolution
A cooperative which has not commenced business may dissolve voluntarily by delivering to the secretary of state articles of dissolution, executed and acknowledged on behalf of the cooperative by a majority of the incorporators, which shall state: The name of the cooperative; The address of its principal office; The date of its incorporation; That the […]
§ 65-29-119. Filing of Articles of Incorporation, Etc
Articles of incorporation, amendment, consolidation, merger, conversion, or dissolution, as the case may be, when executed and acknowledged and accompanied by such affidavits as may be required by applicable provisions of this chapter, shall be presented to the secretary of state for filing in the records of the office of the secretary of state. If […]
§ 65-29-120. Filing Fees
The secretary of state shall charge and collect for the filing of: Articles of incorporation, twenty-five dollars ($25.00); Articles of amendment, fifteen dollars ($15.00); Articles of consolidation or merger, fifteen dollars ($15.00); Articles of conversion, fifteen dollars ($15.00); Certificate of election to dissolve, fifteen dollars ($15.00); Articles of dissolution, fifteen dollars ($15.00); and Certificate of […]
§ 65-29-121. Use of Revenue
Revenues of a corporation for any fiscal year may be used to: Defray expenses of the cooperative and of the operation and maintenance of its facilities during such fiscal year; Pay the interest and principal obligations of the cooperative coming due in such fiscal year; Finance, or to provide a reserve for the financing of, […]
§ 65-29-106. Incorporators
Five (5) or more natural persons, or two (2) or more cooperatives, may organize a cooperative in the manner provided for in this chapter.