Section 394.010 – Designation of chapter.
Effective – 28 Aug 1939 394.010. Designation of chapter. — This chapter may be cited as “The Rural Electric Cooperative Law”. ——– (RSMo 1939 § 5386)
Section 394.020 – Definitions.
Effective – 28 Aug 2021, 2 histories 394.020. Definitions. — In this chapter, unless the context otherwise requires, (1) “Member” means each incorporator of a cooperative and each person admitted to and retaining membership therein, and shall include a husband and wife admitted to joint membership; (2) “Person” includes any natural person, firm, association, corporation, […]
Section 394.030 – Formation of cooperative corporations authorized.
Effective – 28 Aug 1939 394.030. Formation of cooperative corporations authorized. — 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 […]
Section 394.040 – Who may organize.
Effective – 28 Aug 1939 394.040. Who may organize. — Five or more persons may organize a cooperative in the manner herein provided. ——– (RSMo 1939 § 5391)
Section 394.050 – Articles of incorporation — where filed.
Effective – 28 Aug 1983 394.050. Articles of incorporation — where filed. — 1. The articles of incorporation of a cooperative shall recite in the caption that they are executed pursuant to this chapter, shall be signed and acknowledged in duplicate by at least five of the incorporators and shall state: (1) The name of […]
Section 394.060 – Name of cooperative shall include what.
Effective – 28 Aug 1939 394.060. Name of cooperative shall include what. — The name of each cooperative shall include the words “electric” and “cooperative”. The name of a cooperative shall distinguish it from the name of any other corporation organized under the laws of, or authorized to transact business in, this state. The words […]
Section 394.070 – Corporation may become subject to provisions of chapter, how.
Effective – 28 Aug 1939 394.070. Corporation may become subject to provisions of chapter, how. — 1. 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 […]
Section 394.080 – Powers, generally — may supply energy to certain cities, towns and villages, when.
Effective – 28 Aug 2018, 2 histories 394.080. Powers, generally — may supply energy to certain cities, towns and villages, when. — 1. A cooperative shall have power: (1) To sue and be sued, in its corporate name; (2) To have succession by its corporate name for the period stated in its articles of incorporation […]
Section 394.085 – High-speed broadband communications, general assembly declaration on, intent — rural electric cooperative defined — construction of law — offering of services, requirement.
Effective – 28 Aug 2018 394.085. High-speed broadband communications, general assembly declaration on, intent — rural electric cooperative defined — construction of law — offering of services, requirement. — 1. The general assembly declares that expanding and accelerating access to high-speed broadband communications services throughout the entire state of Missouri is necessary, desirable, in the […]
Section 394.090 – Articles may be amended, how.
Effective – 28 Aug 1939 394.090. Articles may be amended, how. — 1. A cooperative may amend its articles of incorporation by complying with the following requirements: (1) The proposed amendment shall be first approved by the board of directors and shall then be submitted to a vote of the members at any annual or […]
Section 394.100 – Articles to be filed with secretary of state.
Effective – 28 Aug 1939 394.100. Articles to be filed with secretary of state. — 1. Articles of incorporation, amendment, consolidation, merger, conversion, or dissolution, as the case may be, when executed and acknowledged in duplicate and accompanied by such affidavits as may be required by applicable provisions of this chapter, shall be presented to […]
Section 394.110 – Bylaws to be adopted.
Effective – 28 Aug 1939 394.110. Bylaws to be adopted. — The original bylaws of a cooperative may be adopted by its board of directors or stockholders. Thereafter bylaws shall be adopted, amended or repealed by its members. The bylaws shall set forth the rights and duties of members and directors and may contain other […]
Section 394.120 – Qualifications for membership — meetings — rules — board of directors authority on certain matters, expires, when.
Effective – 28 Aug 2021, 2 histories 394.120. Qualifications for membership — meetings — rules — board of directors authority on certain matters, expires, when. — 1. No person shall become a member of a cooperative unless such person shall agree to use electric energy furnished by the cooperative when such electric energy shall be […]
Section 394.130 – Territory supplied by cooperative may be divided into voting districts.
Effective – 28 Aug 1939 394.130. Territory supplied by cooperative may be divided into 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 may be divided into two or more voting districts for the purpose of properly […]
Section 394.140 – Directors to manage cooperative.
Effective – 28 Aug 1939 394.140. Directors to manage cooperative. — 1. The business and affairs of a cooperative shall be managed by a board of not less than five directors, each of whom shall be a member of the cooperative. The bylaws shall prescribe the number of directors, their qualifications, other than those provided […]
Section 394.150 – Officers — removal.
Effective – 28 Aug 1939 394.150. Officers — removal. — The officers of a cooperative shall consist of a president, vice president, secretary and treasurer, who shall be elected annually. No person shall continue to hold the offices of president or vice president after he shall have ceased to be a director. The offices of […]
Section 394.160 – Rules and regulations prescribed by public service commission — limitation on jurisdiction of commission.
Effective – 28 Aug 1979 394.160. Rules and regulations prescribed by public service commission — limitation on jurisdiction of commission. — 1. Every cooperative constructing, maintaining and operating its electric transmission or distribution lines shall construct, maintain and operate such lines in conformity with the rules and regulations relating to the manner and methods of […]
Section 394.170 – Revenues of cooperative — disposition.
Effective – 28 Aug 1939 394.170. Revenues of cooperative — disposition. — 1. Revenues of a cooperative for any fiscal year in excess of the amount thereof necessary: (1) To defray expenses of the cooperative and of the operation and maintenance of its facilities during such fiscal year; (2) To pay interest and principal obligations […]
Section 394.180 – Sale of property by cooperative — membership approval required.
Effective – 28 Aug 1971 394.180. Sale of property by cooperative — membership approval required. — 1. A cooperative may not sell, lease or otherwise dispose of, except by mortgage, or deeds of trust, all or any substantial portion of its property unless such sale, lease, or other disposition is authorized at a duly held […]
Section 394.190 – Effect of mortgage or deed of trust executed by cooperative.
Effective – 28 Aug 1939 394.190. Effect of mortgage or deed of trust executed by cooperative. — 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 […]