Maine Revised Statutes Title 35-A Sec. 3751 – Powers generally
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A cooperative may: [PL 1987, c. 141, Pt. A, §6 (NEW).]
1. Sue. Sue in its corporate name;
[PL 1987, c. 141, Pt. A, §6 (NEW).]
Terms Used In Maine Revised Statutes Title 35-A Sec. 3751
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- cooperative: means any corporation organized under this chapter or which becomes subject to this chapter in the manner provided. See Maine Revised Statutes Title 35-A Sec. 3703
- Deed: The legal instrument used to transfer title in real property from one person to another.
- lands: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Personal property: All property that is not real property.
2. Be sued. Be sued in its corporate name;
[PL 1987, c. 141, Pt. A, §6 (NEW).]
3. Seal. Adopt and alter a corporate seal;
[PL 1987, c. 141, Pt. A, §6 (NEW).]
4. Use of electricity. Generate, manufacture, purchase, acquire, accumulate and transmit electricity, and distribute, sell, supply and dispose of electricity to its members;
[PL 1987, c. 141, Pt. A, §6 (NEW).]
5. Use of electrical and plumbing appliances. Assist persons to whom electricity is or will be supplied by the cooperative in wiring their premises and in acquiring and installing electrical and plumbing appliances, equipment, fixtures and apparatus by financing, or otherwise; wire or cause to be wired the premises; and purchase, acquire, lease as lessor or lessee, sell, distribute, install and repair the electric and plumbing appliances, equipment, fixtures and apparatus;
[PL 1987, c. 141, Pt. A, §6 (NEW).]
6. Electric cold storage or processing plants. Assist persons to whom electricity is or will be supplied by the cooperative in constructing, equipping, maintaining and operating electric cold storage or processing plants, by financing or otherwise;
[PL 1987, c. 141, Pt. A, §6 (NEW).]
7. Acquire certain plants and equipment. Construct, purchase, lease as lessee or otherwise acquire; equip, maintain and operate; sell; assign; convey; lease as lessor; or mortgage, pledge or otherwise dispose of or encumber electric transmission and distribution lines or systems, electric generating plants, electric cold storage or processing plants, lands, buildings, structures, dams, plants and equipment and any other real or personal property, tangible or intangible, which is determined necessary, convenient or appropriate to accomplish the purpose for which the cooperative is organized. In the construction and operation of their facilities, cooperatives shall comply with all safety laws and regulations applicable to electric utilities;
[PL 1987, c. 141, Pt. A, §6 (NEW).]
8. Electric transmission and distribution lines. Construct, maintain and operate electric transmission and distribution lines along, upon, under and across publicly owned lands and public thoroughfares, including all roads, highways, streets, alleys, bridges and causeways, subject to chapters 23 and 25;
[PL 1987, c. 141, Pt. A, §6 (NEW).]
9. Franchises, licenses, rights and easements. Purchase, lease as lessee, or otherwise acquire; use and exercise, and sell, assign, convey, mortgage, pledge or otherwise dispose of or encumber franchises, rights, privileges, licenses and easements;
[PL 1987, c. 141, Pt. A, §6 (NEW).]
10. Contract indebtedness. Borrow money and otherwise contract indebtedness; issue notes, bonds and other evidences of indebtedness; and secure the payment by mortgage, pledge or deed of trust, or any other encumbrance upon, any or all of its then owned or after-acquired real or personal property, assets, franchises, revenues or income;
[PL 1987, c. 141, Pt. A, §6 (NEW).]
11. Member of other cooperatives. Become a member of other cooperatives or corporations or to own stock in them;
[PL 1987, c. 141, Pt. A, §6 (NEW).]
12. Bylaws. Adopt, amend and repeal bylaws;
[PL 1987, c. 141, Pt. A, §6 (NEW).]
13. Other consistent acts. Perform any other acts and have and exercise any other powers which may be necessary, convenient or appropriate to accomplish the purpose for which the cooperative is organized.
[PL 1987, c. 141, Pt. A, §6 (NEW).]
SECTION HISTORY
PL 1987, c. 141, §A6 (NEW).