10-2121. Definitions In this article, unless the context otherwise requires: 1. " Affiliate" means a person that directly or indirectly, through one or more intermediaries, controls, is controlled by or is under common control with another person. 2. " Broadband service" means providing access and transport to the internet, computer processing, information storage or protocol […]
10-2122. Purpose Nonprofit electric generation and transmission cooperative corporations may be organized under this article for the purpose of: 1. Producing and generating, purchasing, marketing or selling electric energy or transmitting such energy to other electric utilities or persons. 2. Providing services relating to producing and generating, purchasing, marketing or selling electric energy or transmitting […]
10-2123. Incorporators Two or more electric utilities or persons that fulfill the requirements for being a member may organize a generation and transmission cooperative as provided in this article.
10-2124. Use of name A. The name of a generation and transmission cooperative shall include the word " cooperative" and the abbreviation " inc." , unless, in a statement executed by the cooperative and filed with the corporation commission, it appears that the generation and transmission cooperative desires to transact business in another state and […]
10-2125. Articles of incorporation A. Articles of incorporation of a generation and transmission cooperative shall recite that they are executed pursuant to this article and shall state: 1. The name of the generation and transmission cooperative. 2. The address of its principal office. 3. The names and addresses of its incorporators. 4. The names and […]
10-2126. Amendment of articles; change of location of principal office A. A generation and transmission cooperative may amend its articles of incorporation by complying with the following requirements: 1. A proposed amendment shall be presented to a meeting of the members. The meeting notice shall state or have attached to it all proposed amendments. A […]
10-2127. Powers of a generation and transmission cooperative A. A generation and transmission cooperative may: 1. Sue and be sued and complain and defend in its corporate name. 2. Have perpetual existence by its corporate name. 3. Adopt a corporate seal and alter the seal at its pleasure, and use the seal by causing it, […]
10-2128. Membership in a generation and transmission cooperative; voting; nonliability A. Only electric utilities and other persons as the bylaws provide are eligible to be members of a generation and transmission cooperative. All incorporators shall be original members of a generation and transmission cooperative, and new members may be admitted by a majority vote of […]
10-2129. Annual and special meetings of members; notice; quorum A. An annual meeting of the members of a generation and transmission cooperative shall be held at a time and place provided in the bylaws. Special meetings of the members may be called by the president, by the board of directors, by any three directors or […]
10-2130. Board of directors; term; compensation; quorum A. A board of directors shall manage the business of a generation and transmission cooperative. The directors named in the articles of incorporation, consolidation, merger or conversion hold office until the directors’ successors are elected and qualify. The bylaws shall prescribe the number and terms of directors and […]
10-2131. Officers of a generation and transmission cooperative The officers of a generation and transmission cooperative consist of a president, vice-president, secretary and treasurer, who are elected annually by and from the board of directors. If stated in the bylaws, the officers of the cooperative do not need to be members of the board of […]
10-2132. Bylaws The board of directors shall adopt the first bylaws of a generation and transmission cooperative to be adopted following incorporation, conversion, merger or consolidation. Thereafter, bylaws shall be adopted, amended or repealed either by the board of directors or by a majority of the members acting through their voting delegates present in person […]
10-2133. Nonprofit operation A generation and transmission cooperative shall be operated on a nonprofit basis for the mutual benefit of its members and patrons. The bylaws of a generation and transmission cooperative or its contracts with consumers shall contain such provisions relative to the disposition of revenues and receipts as are necessary and appropriate to […]
10-2134. Disposition of property A. The board of directors of a generation and transmission cooperative may, without authorization by the members, authorize the execution and delivery of mortgages or deeds of trust pledging or encumbering any or all of the property, assets, rights, privileges, licenses, franchises and permits of the generation and transmission cooperative, whether […]
10-2135. Recording of mortgages; effect A. Any mortgage, deed of trust or other instrument executed by a generation and transmission cooperative doing business in this state pursuant to this article, which affects real and personal property which is recorded in the office of the county recorder in any county in which the property is located […]
10-2136. Use of roads and streets; notice; protest A. A generation and transmission cooperative has the use of, and the right is expressly granted to it to use, the public highways, county highways and streets and alleys in any area of this state. The generation and transmission cooperative may construct and operate lines connecting any […]
10-2138. Prohibition of duplication of service A generation and transmission cooperative organized pursuant to this article is expressly prohibited from supplying electric generation service in the certificated service territory of or to any corporation in the certificated service territory of or to any member of a member owned nonprofit cooperative corporation unless the cooperative has […]
10-2139. Merger, interest exchange, conversion, domestication or division; definitions A. A domestic nonprofit electric generation and transmission cooperative corporation may be a party to or otherwise undertake a merger, an interest exchange, a conversion, a domestication or a division by complying with chapter 34 of this title and title 29, chapter 6. B. Except as […]
10-2141. Conversion of cooperatives into generation and transmission cooperatives A cooperative created pursuant to article 2 of this chapter and which meets the requirements of this article may be converted into a generation and transmission cooperative authorized to do business and entitled to all privileges and immunities of a generation and transmission cooperative organized pursuant […]
10-2143. Dissolution A. A generation and transmission cooperative that has not commenced business may dissolve voluntarily by delivering to the corporation commission articles of dissolution, executed and acknowledged on behalf of the generation and transmission cooperative by a majority of the incorporators, which shall state: 1. The name of the generation and transmission cooperative. 2. […]
