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 […]
425.18 – Initiative by Members.
425.18 Initiative by members.—Notwithstanding any other provision of this chapter, any proposition embodied in a petition signed by not less than 10 percent of the members of a cooperative, together with any document submitted with such petition to give effect to the proposition, shall be submitted to the members of a cooperative, either at a special […]
425.04 – Powers.
425.04 Powers.—A cooperative shall have power: (1) To sue and be sued, in its corporate name; (2) To have perpetual existence; (3) To adopt a corporate seal and alter the same at pleasure; (4) To generate, manufacture, purchase, acquire, accumulate and transmit electric energy, and to distribute, sell, supply, and dispose of electric energy in rural areas to its members, […]
425.19 – Dissolution.
425.19 Dissolution.— (1) A cooperative which has not commenced business may dissolve voluntarily by delivering to the Department of State articles of dissolution, executed and acknowledged on behalf of the cooperative by a majority of the incorporators, which shall state: (a) The name of the cooperative; (b) The address of its principal office; (c) The date of its incorporation; (d) That […]
425.045 – Meetings of Trustees; Records.
425.045 Meetings of trustees; records.— (1) All meetings of any board of trustees of a cooperative organized pursuant to this chapter, or the board of any affiliated company or subsidiary thereof, at which official acts are to be taken, are declared to be meetings open to the membership of such cooperative at all times, and no formal […]
425.05 – Name.
425.05 Name.—The name of each cooperative shall include the words “electric” and “cooperative” and the abbreviation “inc.”; provided, however, such limitation shall not apply if, in an affidavit made by the president or vice president of a cooperative and filed with the Department of State, it shall appear that the cooperative desires to transact business in […]
425.06 – Incorporators.
425.06 Incorporators.—Five or more natural persons or two or more cooperatives, may organize a cooperative in the manner hereinafter provided. History.—s. 5, ch. 19138, 1939; CGL 1940 Supp. 6494(48).