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Telephone Cooperative Act

Texas · UT · §§ 162.001 to 162.304 · 61 sections

Overview

The act provides a corporate framework for telephone cooperatives — nonprofit, member-owned corporations organized to furnish communication service. It governs how such a cooperative comes into being and stays in good standing, addressing incorporators, articles of incorporation and their filing, recording, and revival, permissible corporate names, duration, and the curing of defective organization, and it regulates internal affairs through bylaws, membership and patron rules, members' meetings and voting, and a board of directors elected by the membership, with provisions for districts, officers, an executive committee, director compensation, insurance, and indemnification. It also establishes the cooperative's nonprofit character and the general and communication-service powers it may exercise, shields members from liability for the cooperative's debts, sets construction standards and the effect of recording cooperative mortgages, and provides for a license fee alongside exemptions from certain excise taxes and from securities regulation.

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

Enacted in other states

South Carolina, Tennessee

All Texas named statutes →

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