Arizona Laws 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 all voting delegates. The bylaws may prescribe additional qualifications, limitations and classifications and rights concerning membership.
Terms Used In Arizona Laws 10-2128
- Articles of incorporation: means the original or restated articles of incorporation or articles of merger and all amendments to the articles of incorporation or merger and includes amended and restated articles of incorporation and articles of amendment and merger. See Arizona Laws 10-140
- Bylaws: means the code of rules adopted for the regulation or management of the affairs of the corporation irrespective of the name by which those rules are designated. See Arizona Laws 10-140
- Delegates: means those persons elected or appointed to vote in a representative assembly for the election of a director or directors or on other matters. See Arizona Laws 10-3140
- Generation and transmission cooperative: means a corporation that is organized under this article or that becomes subject to this article as provided in this article. See Arizona Laws 10-2121
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Member: means , without regard to what a person is called in the articles of incorporation or bylaws, any person or persons who, pursuant to a provision of a corporation's articles of incorporation or bylaws, have the right to vote for the election of a director or directors. See Arizona Laws 10-3140
- Membership: refers to the rights and obligations a member or members have pursuant to a corporation's articles of incorporation and bylaws and chapters 24 through 40 of this title. See Arizona Laws 10-3140
- Property: includes both real and personal property. See Arizona Laws 1-215
- Vote: includes authorization by written ballot and written consent. See Arizona Laws 10-3140
B. The articles of incorporation or the bylaws of a generation and transmission cooperative may provide for classifications of members in a generation and transmission cooperative.
C. The bylaws shall provide the number of voting delegates that each member may designate. The bylaws may provide that each classification of members may designate a different number of voting delegates.
D. Members are entitled to vote as members only through their duly designated voting delegate. A reference in this article to approval or votes by members refers to the members approving or voting through their voting delegates.
E. A member is not liable or responsible for the acts, debts, liabilities or obligations of the generation and transmission cooperative, and the property of the members is not subject to execution for such acts, debts, liabilities or obligations unless the member otherwise agrees.