Menu

Nonprofit Corporations

resources / Statutes / Nonprofit Corporations

§10-2057 Powers of electric cooperative

Title 10 – Corporations and Associations Chapter 19 – Not For Profit Corporations And Associations, Cooperatives And Fraternal And Benevolent Societies Article 2 – Electric Cooperative Nonprofit Membership Corporations A. A cooperative organized under this article may: 1. Sue and be sued in its corporate name. 2. Have perpetual existence. 3. Adopt and alter a […]

§10-2058 Board of directors; compensation; term; quorum

Title 10 – Corporations and Associations Chapter 19 – Not For Profit Corporations And Associations, Cooperatives And Fraternal And Benevolent Societies Article 2 – Electric Cooperative Nonprofit Membership Corporations A. The business of a cooperative shall be managed by a board of directors.  Unless the bylaws provide otherwise, each of the directors shall be a […]

§10-2059 Officers of cooperative

Title 10 – Corporations and Associations Chapter 19 – Not For Profit Corporations And Associations, Cooperatives And Fraternal And Benevolent Societies Article 2 – Electric Cooperative Nonprofit Membership Corporations The officers of a cooperative shall consist of a president, vice-president, secretary and treasurer, who shall be elected annually by and from the board of directors. […]

§10-2060 Members in cooperative

Title 10 – Corporations and Associations Chapter 19 – Not For Profit Corporations And Associations, Cooperatives And Fraternal And Benevolent Societies Article 2 – Electric Cooperative Nonprofit Membership Corporations Each incorporator of a cooperative shall be a member of the cooperative, but no other person may become a member unless the person agrees to use […]

§10-2061 Nonliability of members for cooperative indebtedness

Title 10 – Corporations and Associations Chapter 19 – Not For Profit Corporations And Associations, Cooperatives And Fraternal And Benevolent Societies Article 2 – Electric Cooperative Nonprofit Membership Corporations A member shall not be liable or responsible for the acts, debts, liabilities or obligations of the cooperative and the property of the members shall not […]

§10-2062 Annual and special meetings of members; notice; quorum; voting

Title 10 – Corporations and Associations Chapter 19 – Not For Profit Corporations And Associations, Cooperatives And Fraternal And Benevolent Societies Article 2 – Electric Cooperative Nonprofit Membership Corporations A. An annual meeting of the members of a cooperative shall be held at such time and place as provided in the bylaws. Special meetings of […]

§10-2063 Waiver of notice of meeting

Title 10 – Corporations and Associations Chapter 19 – Not For Profit Corporations And Associations, Cooperatives And Fraternal And Benevolent Societies Article 2 – Electric Cooperative Nonprofit Membership Corporations A person entitled to notice of a meeting may waive notice in writing either before or after the meeting. If the person attends the meeting, his […]

§10-2064 Bylaws

Title 10 – Corporations and Associations Chapter 19 – Not For Profit Corporations And Associations, Cooperatives And Fraternal And Benevolent Societies Article 2 – Electric Cooperative Nonprofit Membership Corporations The board of directors shall adopt the first bylaws of a cooperative to be adopted following incorporation, conversion, merger or consolidation. Thereafter either the board of […]

§10-2065 Districts; boundaries

Title 10 – Corporations and Associations Chapter 19 – Not For Profit Corporations And Associations, Cooperatives And Fraternal And Benevolent Societies Article 2 – Electric Cooperative Nonprofit Membership Corporations The bylaws may provide for the division of the territory served or to be served by a cooperative into two or more districts for any purpose, […]

§10-2066 Change of location of principal office

Title 10 – Corporations and Associations Chapter 19 – Not For Profit Corporations And Associations, Cooperatives And Fraternal And Benevolent Societies Article 2 – Electric Cooperative Nonprofit Membership Corporations A cooperative may, upon authorization of its board of directors or its members, change the location of its principal office by filing in the office of […]

§10-2067 Nonprofit operation

Title 10 – Corporations and Associations Chapter 19 – Not For Profit Corporations And Associations, Cooperatives And Fraternal And Benevolent Societies Article 2 – Electric Cooperative Nonprofit Membership Corporations A cooperative shall be operated on a nonprofit basis for the mutual benefit of its members and patrons. The by-laws of a cooperative or its contracts […]

§10-2068 Disposition of property

Title 10 – Corporations and Associations Chapter 19 – Not For Profit Corporations And Associations, Cooperatives And Fraternal And Benevolent Societies Article 2 – Electric Cooperative Nonprofit Membership Corporations A. The board of directors of a cooperative, without authorization by the members of the cooperative, may authorize the execution and delivery of mortgages or deeds […]