§ 117-19 – Taxes and assessments.
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 shall be a public agency; nor shall any such corporation be, or have the rights of, a political subdivision of the State. (b) With respect to its […]
§ 117-12 – Execution and filing of certificate of incorporation by residents of territory to be served.
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 be conducted who are desirous of using electric energy to be furnished by the corporation. The […]
§ 117-4 – Organization meeting of Authority; chairman and secretary.
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 shall choose from their number a chairman. They shall also choose a secretary, who shall be a competent engineer and shall fix his […]
§ 117-5 – Compensation and expenses.
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 performance of their duties in accordance with the provisions of G.S. 138-5. (1935, c. 288, s. 5; 1939, c. 97; 1975, c. 709, s. 8.)
§ 117-6 – Title of Article.
117-6. Title of Article. This Article may be cited as the "Electric Membership Corporation Act." (1935, c. 291, s. 1.)
§ 117-7 – Definitions.
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 context: (1) "Acquire" shall mean acquire by purchase, lease, devise, gift or other mode of acquisition. (2) "Board" shall mean the board of directors of a corporation formed under […]
§ 117-8 – Formation in unserved communities; filing application with Rural Electrification Authority.
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 community and desire to form corporations to be known as electric membership corporations for said purpose, they shall file application […]
§ 117-9 – Issuance of privilege for formation of such corporation.
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 survey of said territory to be made and if, in its opinion, the proposal is feasible, shall issue to said community a […]
§ 117-10 – Formation authorized.
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 organized for pecuniary profit for the purpose of promoting and encouraging the fullest possible use of electric energy in the rural section of the State by making electric […]
§ 117-10.1 – Municipal franchises.
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 electric membership corporation is on April 20, 1965 furnishing electric service at retail to a majority of the electric meters; or (2) To which such electric membership corporation […]