Senate Bill (S)

Authored by

DIGEST

Rural utility cooperatives. Amends the statutes concerning rural telephone cooperative corporations (cooperative corporations) as follows: (1) Specifies that for purposes of the statute, a "member" of a cooperative corporation means a person admitted to membership both under law and under the cooperative corporation's bylaws. (Current law provides that a member means a person admitted to membership under law or the cooperative corporation's bylaws.) (2) Allows for electronic notice of a meeting of the cooperative corporation's members. (3) Authorizes a cooperative corporation to include a provision in its articles of incorporation or its bylaws to allow any votes cast: (A) after Rural utility cooperatives. Amends the statutes concerning rural telephone cooperative corporations (cooperative corporations) as follows: (1) Specifies that for purposes of the statute, a "member" of a cooperative corporation means a person admitted to membership both under law and under the cooperative corporation's bylaws. (Current law provides that a member means a person admitted to membership under law or the cooperative corporation's bylaws.) (2) Allows for electronic notice of a meeting of the cooperative corporation's members. (3) Authorizes a cooperative corporation to include a provision in its articles of incorporation or its bylaws to allow any votes cast: (A) after notice of a meeting is provided; and (B) before a meeting of its members; to count toward specified quorum requirements. Amends the statute concerning the merger or consolidation of rural electric membership corporations and rural telephone cooperative corporations to: (1) allow for electronic notice of a meeting of a surviving corporation's or successor corporation's members; (2) authorize a surviving corporation or successor corporation to include a provision in its articles of incorporation or its bylaws to allow any votes cast: (A) after notice of a meeting is provided; and (B) before a meeting of its members; to count toward specified quorum requirements; and (3) specify that a person may not become or remain a member of a surviving corporation or successor corporation unless the person uses energy, communications, or other services (rather than retail electric service or communications service, as specified in current law) supplied by the surviving corporation or successor corporation. Makes conforming amendments concerning voting requirements in the statute governing rural electric membership corporations. ... View more