reglab/housing_qa huggingface dataset:
30 V.S.A. § 3021
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3021. Merger, requirements

§ 3021. Merger, requirements|One or more cooperatives, each of which is hereinafter designated a "merging cooperative," may merge into another cooperative, hereinafter designated the "surviving cooperative," by complying with the following requirements:  (1) The proposition for the merger of the merging cooperatives into the surviving cooperative and proposed articles of merger to give effect thereto shall be submitted to a meeting of the members of each merging cooperative and of the surviving cooperative, the notice of which shall have attached thereto a copy of the proposed articles of merger. (2) If the proposed merger and the proposed articles of merger, with amendments, are approved by the affirmative vote of not less than two-thirds of those members of each cooperative voting thereon at each such meeting, articles of merger in the form approved shall be executed and acknowledged on behalf of each such cooperative by its president or vice president and its seal shall be affixed thereto and attested by its secretary. The articles of merger shall recite that they are executed pursuant to this chapter and shall state: (A) the name of each merging cooperative and the address of its principal office; (B) the name of the surviving cooperative and the address of its principal office; (C) a statement that each merging cooperative and the surviving cooperative agree to the merger; (D) the names and addresses of the directors of the surviving cooperative; and (E) the terms and conditions of the merger and the mode of carrying the same into effect, including the manner in which members of the merging cooperatives may become members of the surviving cooperative. Such articles may contain provisions not inconsistent with law or this chapter deemed necessary or advisable for the conduct of the business of the surviving cooperative. The president or vice president of each cooperative executing such articles of merger shall make and annex thereto an affidavit stating that the provisions of this section in respect to such articles were duly complied with by such cooperative. (Amended 1999, No. 143 (Adj. Sess.), § 17.)
30 V.S.A. § 3022
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3022. Effect

§ 3022. Effect|In the case of a consolidation, the separate existence of the consolidating cooperatives shall cease and the articles of consolidation shall be deemed to be the articles of incorporation of the new cooperative. In the case of a merger, the separate existence of the merging cooperatives shall cease and the articles of incorporation of the surviving cooperative shall be deemed to be amended to the extent that changes therein are provided for in the articles of the merger.
30 V.S.A. § 3023
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3023. Transfer of rights and liabilities

§ 3023. Transfer of rights and liabilities|All the rights, privileges, immunities, and franchises and all property, real and personal, including applications for membership, all debts due on whatever account, and all other choses in action, of each of the consolidating or merger cooperatives shall be deemed to be transferred to and vested in the new or surviving cooperative respectively, without further act or deed.
30 V.S.A. § 3024
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3024. Responsibilities for liabilities transferred

§ 3024. Responsibilities for liabilities transferred|The new or surviving cooperative shall be responsible and liable for all the liabilities and obligations of each of the consolidating or merging cooperatives and a claim existing or action or proceeding pending by or against a consolidating or merging cooperative may be prosecuted as if the consolidation or merger had not taken place, but the new or surviving cooperative may be substituted in its place.
30 V.S.A. § 3025
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3025. Creditors' rights not impaired by merger

§ 3025. Creditors' rights not impaired by merger|Neither the rights of creditors nor liens upon the property of such cooperatives shall be impaired by such consolidation or merger.
30 V.S.A. § 3026
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3026. Private corporation, change

§ 3026. Private corporation, change|A corporation organized under the laws of this State and supplying or authorized to supply energy may be converted into a cooperative by complying with the following requirements and shall thereupon become subject to this chapter with the same effect as if originally organized under this chapter:  (1) The proposition for the conversion of such corporation into a cooperative and proposed articles of conversion to give effect thereto shall be submitted to a meeting of the members or stockholders of such corporation, the notice of which shall have attached thereto a copy of the proposed articles of conversion. (2) If the proposition for the conversion of such corporation into a cooperative and the proposed articles of conversion, with amendments, are approved by the affirmative vote of not less than two-thirds of those members of such corporation voting thereon at such meeting, or, if such corporation is a stock corporation, by the affirmative vote of the holders of not less than two-thirds of the shares of the capital stock of such corporation represented at such meeting and voting thereon, articles of conversion in the form approved shall be executed and acknowledged on behalf of such corporation by its president or vice president and its seal shall be affixed thereto and attested by its secretary. (3) The articles of conversion shall recite that they are executed pursuant to this chapter and shall state: (A) the name of the corporation and the address of its principal office prior to its conversion into a cooperative; (B) the statute or statutes under which it was organized; (C) a statement that such corporation elects to become a cooperative subject to this chapter; (D) its name as a cooperative; (E) the address of the principal office of the cooperative; (F) the names and addresses of the directors of the cooperative; and (G) the manner in which members or stockholders of such corporation may become members of the cooperative; and may contain any provisions not inconsistent with law or this chapter deemed necessary or advisable for the conduct of the business of the cooperative. The president or vice president executing such articles of conversion shall make and annex thereto an affidavit stating that the provisions of this section were duly complied with in respect of such articles. The articles of conversion shall be deemed to be the articles of incorporation of the cooperative. (Amended 1999, No. 143 (Adj. Sess.), § 18.)
30 V.S.A. § 3027
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3027. Dissolution- Cooperative not commencing business

§ 3027. Dissolution- Cooperative not commencing business|A cooperative that has not commenced business may be dissolved by delivering to the Secretary of State a certificate of dissolution, which shall be executed and acknowledged on behalf of the cooperative by a majority of the incorporators and which shall state:  (1) the name of the cooperative; (2) the address of its principal office; (3) that the cooperative has not commenced business; (4) that any sums received by the cooperative, less any part thereof disbursed for expenses of the cooperative, have been returned or paid to those entitled thereto; (5) that no debt of the cooperative is unpaid; and (6) that a majority of the incorporators elect that the cooperative be dissolved.
30 V.S.A. § 3029
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3029. Papers filed

§ 3029. Papers filed|Articles of incorporation, amendment, consolidation, merger, conversion, or dissolution, when executed and acknowledged and accompanied by such affidavits as may be required by applicable provisions of this chapter, shall be filed with the Secretary of State. If the Secretary of State shall find that the articles presented conform to the requirements of this chapter, he or she shall, upon the payment of the fees as in this chapter provided, record such articles and upon such recording the incorporation, amendment, consolidation, merger, conversion, or dissolution provided for therein shall be in effect. The provisions of this section shall also apply to certificates of election to dissolve pursuant to section 3028 of this title.
30 V.S.A. § 3030
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3030. Revenues, use of

§ 3030. Revenues, use of|Revenues of a cooperative for a fiscal year in excess of the amount thereof necessary:  (1) To defray the expenses of the operation and maintenance of the facilities of the cooperative during such fiscal year. (2) To pay interest and principal obligations of the cooperative coming due in such fiscal year. (3) To finance, or to provide a reserve for the financing of, the construction or acquisition by the cooperative of additional facilities to the extent determined by the board of directors. (4) To provide a reasonable reserve for working capital. (5) To provide a reserve for the payment of indebtedness of the cooperative in an amount not less than the total of the interest and principal payments in respect thereof required to be made during the next following fiscal year. (6) To provide a fund, hereinafter designated as the "cooperative education fund," for education in cooperation and for the dissemination of information concerning the effective use of energy and other services, goods, or products made available by the cooperative, shall, unless otherwise determined by a vote of the members, be distributed by the cooperative to its members and to other persons to whom the cooperative supplies energy or other services, goods, or products made available through its electric distribution facilities, as patronage refunds prorated in accordance with the patronage of the cooperative by the respective members and such other persons, paid for during such fiscal year; provided, however, such distribution shall not be made to such other person until he or she has become a member of the cooperative. If such other person does not become a member of the cooperative within one year after the amount of his or her distributive share or accumulated distributive shares equals the membership fee required by the bylaws of the cooperative, or, if no membership fee is required, within two years after the declaration of such patronage refund, he or she shall cease to be entitled to such share or shares, which shall, in such case, be paid into the cooperative education fund. The cooperative shall make such additional provision, in the bylaws or otherwise, relative to the disposition of the revenues of the cooperative as may be necessary and appropriate to establish and maintain the nonprofit character of the cooperative. Nothing herein contained shall be construed to prohibit the payment by a cooperative of all or any part of its indebtedness prior to the date when the same shall become due. (Amended 1999, No. 143 (Adj. Sess.), § 20.)
30 V.S.A. § 3031
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3031. Mortgage and investment

§ 3031. Mortgage and investment|(a) The board of directors of a cooperative shall have full power and authority, without authorization by the members thereof, to authorize the execution and delivery of a mortgage or mortgages or a deed or deeds of trust of, or the pledging or encumbering of, any or all of the property, assets, rights, privileges, licenses, franchises, and permits of the cooperative, whether acquired or to be acquired, and wherever situated, as well as the revenues and income therefrom, all upon such terms and conditions as the board of directors shall determine, to secure indebtedness of the cooperative in the ordinary course of the cooperative's electric business.(b) The board of directors of a cooperative shall have full power and authority, with the approval of two-thirds of the members of the cooperative voting on such authorization, to authorize the execution and delivery of a mortgage or mortgages or a deed of trust of, or the pledging or encumbering of, any or all of the property, assets, rights, privileges, licenses, franchises, and permits of the cooperative, whether acquired or to be acquired, and wherever situated, as well as the revenues and income therefrom, upon such terms and conditions as the board of directors shall determine, to secure indebtedness of the cooperative for purposes authorized by statute other than operation of the cooperative's electric business.(c) No more than 50 percent of the member equity of an electric cooperative subject to the provisions of this chapter may be used to invest in all business activities authorized by statute, other than electric business activities. Each individual investment by the electric cooperative in a business activity authorized by statute, other than electric, exceeding three percent of the members' equity, may be made only with approval of two-thirds of the members voting on such proposal.(d) Business activities authorized by statute, other than electric, shall be geographically limited to any county in which the cooperative has authority to sell energy or other services furnished by the cooperative when they are made available through its electric distribution facilities, or any county in which an authorized business is presently serving. (Amended 1969, No. 192 (Adj. Sess.), eff. March 12, 1970; 1999, No. 143 (Adj. Sess.), § 21.)
30 V.S.A. § 3032
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3032. Sale or lease of assets

§ 3032. Sale or lease of assets|A cooperative may not sell, lease, or otherwise dispose of all or a substantial portion of its property unless such sale, lease, or other disposition is authorized by the affirmative vote of not less than a majority of all the members of the cooperative. Members may vote in person or in a manner authorized under section 3011 of this title. (Amended 1999, No. 143 (Adj. Sess.), § 22.)
30 V.S.A. § 3033
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3033. Personal liability

§ 3033. Personal liability|A member shall not be liable or responsible for debts of the cooperative and the property of the members shall not be subject to attachment or execution therefor.
30 V.S.A. § 3034
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3034. Mortgages, filing

§ 3034. Mortgages, filing|A mortgage, deed of trust, or other instrument executed by a cooperative or foreign corporation doing business in this State pursuant to this chapter, which affects real and personal property and which is recorded in the town in which such property is located or is to be located, shall have the same force and effect as if the mortgage, deed of trust, or other instrument were also recorded, filed, or indexed as provided by law in the proper office in such town as a mortgage of personal property. All after-acquired property of such cooperative or foreign corporation described or referred to as being mortgaged or pledged in such mortgage, deed of trust, or other instrument, shall become subject to the lien thereof immediately upon the acquisition of such property by such cooperative or foreign corporation, whether or not such property was in existence at the time of the execution of such mortgage, deed of trust, or other instrument. Recordation of such mortgage, deed of trust, or other instrument shall constitute notice and otherwise have the same effect with respect to such after-acquired property as it has under the laws relating to recordation, with respect to property owned by such cooperative or foreign corporation at the time of the execution of such mortgage, deed of trust, or other instrument and therein described or referred to as being mortgaged or pledged thereby.
30 V.S.A. § 3035
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3035. Safety standards

§ 3035. Safety standards|As a minimum requirement for any activity authorized by this chapter, the cooperative shall adhere to all applicable federal, State, or local safety codes, regulations, or standards. (Amended 1999, No. 143 (Adj. Sess.), § 23.)
30 V.S.A. § 3036
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3036. Acknowledgments, members authorized

§ 3036. Acknowledgments, members authorized|A person who is authorized to take acknowledgments under the laws of this State shall not be disqualified from taking acknowledgments of instruments executed in favor of a cooperative or to which it is a party, by reason of being an officer, director, or member of such cooperative. (Amended 1999, No. 143 (Adj. Sess.), § 24.)
30 V.S.A. § 3037
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3037. Foreign companies, service of process

§ 3037. Foreign companies, service of process|A foreign nonprofit or cooperative corporation supplying or authorized to supply electric energy and owning or operating electric transmission or distribution lines in an adjacent state, prior to March 26, 1943, may construct or acquire extensions of such lines in this State within an area no point of which is more than 25 miles from the boundary line of this State and may operate such extensions without qualifying as a foreign corporation to do business in this State. Before constructing or operating such extensions, by an instrument executed and acknowledged on its behalf by its president or vice president, under its seal attested by its clerk or secretary, and filed with the Secretary of State, which instrument shall be in form and substance like that prescribed by 11 V.S.A. § 692, such a corporation shall designate the Secretary of State its agent to accept service of process on its behalf. Thereafter, such corporation shall have all the rights, powers, privileges, and immunities of a cooperative. Service of process shall be made upon the Secretary of State in accordance with the provisions of 12 V.S.A. §§ 851 and 852 and he or she shall forthwith forward one copy of the same by registered mail to such corporation at the address of its principal office.
30 V.S.A. § 3038
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3038. Fees

§ 3038. Fees|(a) There shall be paid to the Secretary of State fees for filing as follows:  (1) Articles of incorporation, $15.00; (2) Articles of amendment, $10.00; (3) Articles of consolidation or merger, $15.00; (4) Articles of conversion, $10.00; (5) Certificate of election to dissolve, $5.00; (6) Articles of dissolution, $5.00; and (7) Certificate of change of principal office, $5.00.   (b) Such fees shall include two certified copies of the respective instruments. (Amended 1963, No. 37, § 19.)
30 V.S.A. § 3041
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3041. Securities act

§ 3041. Securities act|The provisions of 9 V.S.A. chapter 131 shall not apply to a note, bond, or other evidence of indebtedness issued by a cooperative or foreign corporation doing business in this State pursuant to this chapter, to the United States of America or an agency or instrumentality thereof, or to a mortgage, deed of trust, or other instrument executed to secure the same. The provisions of 9 V.S.A. chapter 131 shall not apply to the issuance of membership certificates by a cooperative or such foreign corporations.
30 V.S.A. § 3042
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3042. Annual reports

§ 3042. Annual reports|Each cooperative formed under the provisions of this chapter shall prepare and submit to its annual meeting a report containing the name of the cooperative, its principal place of business, a general statement of its business operations during the fiscal year, including a statement of its assets and liabilities, the amount of its indebtedness secured by mortgage or pledge of the corporate property or part thereof, and the names of the directors, officers, and secretary. A copy of the annual report attested by the secretary shall be filed with the Secretary of State within 30 days after the annual meeting. (Amended 1999, No. 143 (Adj. Sess.), § 25.)
30 V.S.A. § 3043
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3043. Formation of cooperatives by cooperatives

§ 3043. Formation of cooperatives by cooperatives|(a) Notwithstanding any other provision of this chapter, one or more cooperatives formed under the provisions of this chapter may organize and control a cooperative having as its principal purpose the generation, manufacture, purchase, acquisition, accumulation, transmission, sale, supply, and disposal of energy, cable television, telecommunications, interactive media, and Internet access. Such a cooperative shall have all of the powers of cooperatives formed under the provisions of this chapter.(b) Members of a cooperative organized pursuant to subsection (a) of this section shall be the cooperative or cooperatives organizing it and may include any individual, partnership, association, corporation, municipality, or cooperative engaged in the generation, transmission, or distribution of energy within or without the State of Vermont. The bylaws of a cooperative organized pursuant to subsection (a) of this section may provide for more than one class of membership, including a class or classes with no rights or with limited rights to vote on matters requiring the vote of members under this chapter, and including a class or classes with no rights or limited rights to receive distributions of patronage refunds. (Added 1979, No. 51, § 1, eff. April 25, 1979; amended 1999, No. 143 (Adj. Sess.), § 26.)
30 V.S.A. § 3044
2021 Vermont Statutes|Title 30 - Public Service|Chapter 81 - Electric Cooperatives|§ 3044. Approval by members of cooperative

§ 3044. Approval by members of cooperative|(a) With respect to matters not subject to section 248 of this title, a cooperative established under this chapter shall obtain the approval of the voters of the cooperative before in any way:  (1) purchasing electric capacity or energy from outside the State:  (A) for a period exceeding five years, that represents more than three percent of its historic peak demand, unless the purchase is from a plant that produces electricity from renewable energy; or (B) for a period exceeding 10 years, that represents more than 10 percent of its historic peak demand, if the purchase is from a plant that produces electricity from renewable energy;  (2) investing in an electric generation or transmission facility located outside this State; or (3) beginning site preparation for or construction of an electric generation facility within the State, or an electric transmission facility within the State that is designed for immediate or eventual operation at any voltage or exercising the right of eminent domain in connection with site preparation for or construction of any such transmission or generation facility, except for the replacement of existing facilities with equivalent facilities in the usual course of business.   (b) A cooperative shall obtain the approval required by subsection (a) of this section by a vote of a majority of the voters of the cooperative voting upon the question at a duly warned annual or special meeting to be held for that purpose. Prior to the meeting, the cooperative may provide to the voters an assessment of any risks and benefits of the proposed action.(c) In this section, "plant" and "renewable energy" have the same meaning as in section 8002 of this title. (Added 1985, No. 48, § 4; amended 2015, No. 130 (Adj. Sess.), § 2.)