Rural Electric Cooperative Act
New Mexico · Electric, Gas and Water Utilities · §§ 62-15-1 to 62-15-9.2 · 41 sections
Overview
The Rural Electric Cooperative Act provides a framework for organizing and operating member-owned nonprofit cooperatives that supply electric power and related services, principally to rural areas. It sets out the mechanics of corporate life for these cooperatives — incorporation, articles and bylaws, membership and voting, a governing board of trustees and officers, amendment, consolidation, merger, conversion of existing corporations, and dissolution — along with rules on their powers, subsidiary activities, mortgages and property, refunds to members, limits on member liability for cooperative debts, fees, taxation, and the treatment of out-of-state cooperatives. In some enactments the act also carries renewable energy provisions, including portfolio standards, renewable energy certificates, and energy efficiency requirements administered with regulatory oversight.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
Sections covered
- § 62-15-1 NMSA 1978Short title
- § 62-15-10 NMSA 1978Voting districts
- § 62-15-11 NMSA 1978Officers
- § 62-15-12 NMSA 1978Amendment of articles of incorporation
- § 62-15-13 NMSA 1978Consolidation
- § 62-15-14 NMSA 1978Merger
- § 62-15-15 NMSA 1978Effect of consolidation or merger
- § 62-15-16 NMSA 1978Conversion of existing corporations
- § 62-15-17 NMSA 1978Initiative by members
- § 62-15-18 NMSA 1978Dissolution
- § 62-15-19 NMSA 1978Filing of articles
- § 62-15-2 NMSA 1978Purpose; definition
- § 62-15-20 NMSA 1978Refunds to members
- § 62-15-21 NMSA 1978Disposition of property
- § 62-15-22 NMSA 1978Nonliability of members for debts of cooperative
- § 62-15-23 NMSA 1978Recordation of mortgages
- § 62-15-24 NMSA 1978Waiver of notice
- § 62-15-25 NMSA 1978Trustees, officers or members; notaries
- § 62-15-26 NMSA 1978Foreign corporations
- § 62-15-26.1 NMSA 1978Distribution cooperative utilities organized in other states; application
- § 62-15-27 NMSA 1978Fees
- § 62-15-28 NMSA 1978Taxation
- § 62-15-29 NMSA 1978Repealed
- § 62-15-3 NMSA 1978Powers
- § 62-15-30 NMSA 1978Securities Act exemption
- § 62-15-31 NMSA 1978"Rural area," "person" and "member" defined
- § 62-15-3.1 NMSA 1978Subsidiary business activities
- § 62-15-32 NMSA 1978Construction of act; inconsistency
- § 62-15-33 NMSA 1978Conversion of corporations organized under Laws 1937, Chapter 100, into cooperatives under the Rural Electric Cooperative Act, as amended
- § 62-15-34 NMSA 1978Renewable portfolio standard
- § 62-15-35 NMSA 1978Renewable energy certificates; commission duties
- § 62-15-36 NMSA 1978Renewable energy and conservation fee
- § 62-15-37 NMSA 1978Definitions; energy efficiency; renewable energy
- § 62-15-4 NMSA 1978Name
- § 62-15-5 NMSA 1978Incorporators
- § 62-15-6 NMSA 1978Articles of incorporation
- § 62-15-7 NMSA 1978Bylaws
- § 62-15-8 NMSA 1978Members
- § 62-15-9 NMSA 1978Board of trustees; suits
- § 62-15-9.1 NMSA 1978Duties of trustees
- § 62-15-9.2 NMSA 1978Limitation on liability and indemnification of officers and trustees
Enacted in other states
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