As used in this chapter, the term “electrical cooperative” means any private corporation or association organized for the purposes of transmitting or distributing electricity exclusively to its stockholders or members at cost.
Specific Public UtilitiesElectrical Cooperatives
Section § 2776
This law defines an "electrical cooperative." It is a private company or group that supplies electricity only to its members or shareholders and does so at cost, rather than for profit.
electrical cooperative private corporation association
Section § 2777
This law states that the commission cannot set rates or oversee the financial dealings like borrowing money or handling debts of electrical cooperatives. It also can't regulate how these cooperatives manage or sell their properties.
The commission shall have no authority to establish rates or regulate the borrowing of money, the issuance of evidences of indebtedness, or the sale, lease, assignment, mortgage, or other disposal or encumbrance of the property of any electrical cooperative.
electrical cooperative rates establishment financial regulation
Section § 2778
This law section states that all electrical cooperatives must follow the rules and regulations set out in Part 1, starting with Section 201, unless there are different instructions specified in this chapter.
Except as otherwise specified in this chapter, every electrical cooperative is subject to Part 1 (commencing with Section 201).
electrical cooperative regulations Part 1 compliance Section 201
