Electric Cooperative Act

The act establishes the legal framework for forming and operating electric cooperatives — member-owned associations organized to supply electric service, including in rural areas. It governs incorporation and naming, the powers a cooperative may exercise, governance through a board of trustees, bylaws, and membership meetings, and the corporate procedures for mortgaging or selling assets, converting an existing corporation into a cooperative, and dissolving and winding up, with the required documents filed with the state; it also sets fees, tax treatment, and the terms on which out-of-state cooperatives may operate and be served with process. Alongside these corporate provisions, it imposes consumer protections on service termination — notice and termination procedures, third-party notification, limits on disconnecting residential customers for nonpayment and during public safety emergencies — and addresses regulatory oversight of cooperatives and a private right of action for breaches of the duties it creates.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.