§ 23-18-301. Title

This subchapter may be cited as the “Electric Cooperative Corporation Act”.

§ 23-18-302. Definitions

As used in this subchapter, unless the context otherwise requires: (1) “Acquire” means and includes to construct or acquire by purchase, lease, devise, gift, or other mode of acquisition; (2) “Board” means a board of directors of a corporation organized under this subchapter; (3) “Corporation” means a corporation organized pursuant to the provisions of this […]

§ 23-18-303. Construction

This subchapter shall be construed liberally. The enumeration of any object, purpose, power, manner, method, or thing shall not be deemed to exclude like or similar objects, purposes, powers, manners, methods, or things.

§ 23-18-304. Other laws inapplicable

This subchapter is complete in itself and shall be controlling. The provisions of any other law of this state, except as provided in this subchapter, shall not apply to a corporation organized under this subchapter.

§ 23-18-305. Extension of subchapter to other corporations

Any cooperative or nonprofit corporation or association organized under any other law of this state for the purpose of engaging in rural electrification and existing prior to the passage of this act may amend its articles of incorporation so as to comply with this subchapter by a majority vote of the members present in person […]

§ 23-18-306. Purposes of cooperatives

(a) Organization. Cooperative, nonprofit membership corporations may be organized under this subchapter for the purpose of any one (1) or more of the following: (1) The furnishing of electricity to persons; (2) Assisting in the wiring of the premises of persons in rural areas or the acquisition, supply, or installation of electrical or plumbing equipment […]

§ 23-18-307. Powers of corporation

Each corporation shall have power: (1) To sue and be sued, complain, and defend in its corporate name; (2) To have perpetual succession unless a limited period of duration is stated in its articles of incorporation; (3) To adopt a corporate seal which may be altered at pleasure and to use it or a facsimile […]

§ 23-18-308. Jurisdiction of commission

All corporations organized under this subchapter shall be in all respects subject to the jurisdiction, supervision, regulation, and control of the Arkansas Public Service Commission to the same extent and in the same manner as a public utility, except as otherwise specifically provided by law.

§ 23-18-309. Incorporators

Any three (3) or more natural persons of the age of twenty-one (21) or more, residents of this state, may act as incorporators of a corporation to be organized under this subchapter by executing articles of incorporation as provided in this subchapter.

§ 23-18-310. Cooperative names

The words “electric cooperative” shall not be used in the corporate name of corporations organized under the laws of this state, or authorized to do business in this state, other than those organized pursuant to the provisions of this subchapter.

§ 23-18-311. Articles of incorporation

(a) The articles of incorporation shall state: (1) The name of the corporation. The name shall include the words “Electric Cooperative” and the word “Corporation”, “Incorporated”, “Inc.”, or “Company”. The name of the corporation shall be such as to distinguish it from any other corporation organized and existing under the laws of this state; (2) […]

§ 23-18-312. Articles of incorporation — Execution — Filing and recording

(a) The original copy of the articles of incorporation shall be signed by the incorporators and acknowledged before any officer authorized by the law of this state to acknowledge the execution of deeds and conveyances. (b) The original copy of the articles of incorporation shall be filed in the office of the Secretary of State. […]

§ 23-18-313. Articles of incorporation — Amendment

(a) (1) A corporation may amend its articles of incorporation by a majority vote of the members who are present in person or by proxy at any regular meeting or at any special meeting of its members called for that purpose. (2) The power to amend shall include the power to accomplish any desired change […]

§ 23-18-314. Certificate of incorporation

(a) Upon the issuance of a certificate of incorporation by the Secretary of State, the corporate existence of the corporation shall begin. (b) The certificate of incorporation shall be conclusive evidence, except as against the state, that all conditions precedent required to be performed by the incorporators have been complied with and that the corporation […]

§ 23-18-315. Correction of defects of organization

In the event any corporation has filed defective articles of incorporation or has failed to do all things necessary to perfect its corporate organization, it nevertheless may file corrected articles of incorporation or amend the original articles and do and perform all acts and things necessary in the premises for the correction of such defects. […]

§ 23-18-316. Organizational meeting — Notice

(a) After the issuance of the certificate of incorporation, an organizational meeting shall be held at the call of a majority of the incorporators for the purpose of adopting bylaws and electing officers and for the transaction of such other business as properly may come before the meeting. (b) The incorporators calling the meeting shall […]

§ 23-18-317. Bylaws

(a) The power to make, alter, amend, or repeal the bylaws of the corporation shall be vested in the board of directors. (b) The bylaws may contain any provisions for the regulation and management of the affairs of the corporation not inconsistent with law or the articles of incorporation.

§ 23-18-318. Members

(a) (1) All persons proposed to be served by a corporation shall be eligible to membership in a corporation. (2) No person other than the incorporators shall be, become, or remain a member of a corporation unless the person shall use or agree to use electric energy or, as the case may be, the facilities, […]

§ 23-18-319. Certificate of membership

(a) When a member of a corporation has paid the membership fee in full, a certificate of membership shall be issued to the member. (b) Memberships in the corporation and the certificates shall be nontransferable. (c) The certificate of membership shall be surrendered to the corporation upon the resignation, expulsion, or death of the member.

§ 23-18-320. Meetings of members

(a) Meetings of members may be held at such place as may be provided in the bylaws. In the absence of any such provision, all meetings shall be held in the principal office of the corporation in this state. (b) An annual meeting of the members shall be held at such time as may be […]