425.11 – Voting Districts.
425.11 Voting districts.—Notwithstanding any other provision of this chapter, the bylaws may provide that the territory in which a cooperative supplies electric energy to its members shall be divided into two or more voting districts and that, in respect of each such voting district: (1) A designated number of trustees shall be elected by the members residing […]
425.12 – Officers.
425.12 Officers.—The officers of a cooperative shall consist of a president, vice president, secretary and treasurer, who shall be elected annually by and from the board of trustees. No person shall continue to hold any of the above offices after ceasing to be a trustee. The offices of secretary and of treasurer may be held by […]
425.13 – Amendment of Articles of Incorporation.
425.13 Amendment of articles of incorporation.—A cooperative may amend its articles of incorporation by complying with the following requirements: (1) The proposed amendment shall first be approved by the board of trustees and shall then be submitted to a vote of the members at any annual or special meeting thereof, the notice of which shall set forth […]
425.14 – Consolidation.
425.14 Consolidation.—Any two or more cooperatives, each of which is hereinafter designated a “consolidating cooperative,” may consolidate into a new cooperative, hereinafter designated the “new cooperative,” by complying with the following requirements: (1) The proposition for the consolidation of the consolidating cooperatives into the new cooperative and proposed articles of consolidation to give effect thereto shall be […]
425.15 – Merger.
425.15 Merger.—Any one or more cooperatives, each of which is hereinafter designated a “merging cooperative,” may merge into another cooperative, hereinafter designated the “surviving cooperative,” by complying with the following requirements: (1) The proposition for the merger of the merging cooperatives into the surviving cooperative and proposed articles of merger to give effect thereto shall be first […]
425.01 – Short Title.
425.01 Short title.—This chapter may be cited as the “Rural Electric Cooperative Law.” History.—s. 1, ch. 19138, 1939; CGL 1940 Supp. 6494(43).
425.16 – Effect of Consolidation or Merger.
425.16 Effect of consolidation or merger.—The effect of consolidation or merger shall be as follows: (1) 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 […]
425.02 – Purpose.
425.02 Purpose.—Cooperative, nonprofit, membership corporations may be organized under this chapter for the purpose of supplying electric energy and promoting and extending the use thereof in rural areas. Corporations organized under this chapter and corporations which become subject to this chapter in the manner hereinafter provided are hereinafter referred to as “cooperatives.” History.—s. 2, ch. 19138, […]
425.17 – Conversion of Existing Corporations.
425.17 Conversion of existing corporations.—Any corporation organized under the laws of this state for the purpose, among others, of supplying electric energy in rural areas 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: (1) The proposition […]
425.03 – Definitions.
425.03 Definitions.—In this chapter, unless the context otherwise requires: (1) “Rural area” means any area not included within the boundaries of any incorporated or unincorporated city, town, village, or borough having a population in excess of 2,500 persons; (2) “Person” includes any natural person, firm, association, corporation, business trust, partnership, federal agency, state or political subdivision or agency […]