reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 3 - POWER DISTRICTS (§§ 77-5-101 — 77-5-173) › Section 77-5-151 - Corporate purpose of district

A district shall be created for the purpose of conducting and operating a utility, and to carry out such purpose it shall have power and authority to acquire, construct, reconstruct, operate, maintain, extend or improve any utility within or without the district, and to furnish, deliver and sell to the public, to any municipality, to the state and to any public institution heat, light and power service and any other service, commodity or facility which may be produced or furnished in connection therewith.
Codes, 1942, § 5447; Laws, 1936, ch. 187.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 3 - POWER DISTRICTS (§§ 77-5-101 — 77-5-173) › Section 77-5-153 - General powers of district

Any district created pursuant to the provisions of this article shall be vested with all the powers necessary and requisite for the accomplishment of the purpose for which such district is created, capable of being delegated by the legislature. No enumeration of particular powers created in Section
77-5-155
shall be construed to impair or limit any general grant of power herein contained or to limit any such grant to a power or powers of the same class or classes as those enumerated. The district is empowered to do all acts necessary, proper or convenient in the exercise of the powers granted under this article.
Codes, 1942, § 5447; Laws, 1936, ch. 187.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 3 - POWER DISTRICTS (§§ 77-5-101 — 77-5-173) › Section 77-5-155 - Specific powers of district

Any district created pursuant to this article shall have the power:
(a)
To sue and be sued
(b)
To have a seal
(c)
To acquire by purchase, gift, devise, lease or exercise of the power of eminent domain or other mode of acquisition and to hold and dispose of real and personal property of every kind within or without the district, subject to mortgages or any other liens.
(d)
To make and enter into contracts, conveyances, mortgages, deeds of trust, bonds or leases.
(e)
To incur debts, to borrow money, to issue negotiable bonds and other evidences of indebtedness and to provide for the rights of holders thereof.
(f)
To fix, maintain and collect rates and charges for any service.
(g)
To pledge all or any part of its revenues.
(h)
To make such covenants in connection with the issuance of bonds, or to secure the payment of bonds, that a private business corporation can make under the general laws of the state, notwithstanding that such covenants may operate as limitations on the exercise of any power granted by this article.
(i)
To use any right of way, easement or other similar property right necessary or convenient in connection with the acquisition, improvement, operation or maintenance of a utility, held by the state or any political subdivision thereof, provided that the governing body of such political subdivision shall consent to such use.
Codes, 1942, § 5447; Laws, 1936, ch. 187.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 3 - POWER DISTRICTS (§§ 77-5-101 — 77-5-173) › Section 77-5-157 - Exercise of eminent domain by district

Any district shall have the power to condemn any land, easements, or rights of way either on, under or above the ground as the board may deem necessary for any of the purposes mentioned in this article, and such property or interest in such property may be so acquired whether or not the same is owned or held for public use by corporations, associations or persons having the power of eminent domain, or otherwise held or used for public purposes. Such power of condemnation may be exercised in the mode or method of procedure prescribed by Chapter 27 of Title 11, Mississippi Code of 1972, or in the mode or method or procedure prescribed by any other applicable statutory provisions now in force or hereafter enacted for the exercise of the power of eminent domain. Where condemnation proceedings become necessary the judge of the circuit court in which such proceedings are filed shall upon application of the district and upon the deposit in the court, to the use of the person or persons lawfully entitled thereto, of such an amount as the judge may deem necessary to assure just compensation, order that the right of possession shall issue immediately or as soon and upon such terms as the judge in his discretion, may deem proper and just. Upon application of the parties in interest, the judge may order that the money deposited in the court, or any part thereof, be paid forthwith for or on account of the just compensation to be awarded in said proceedings.
Codes, 1942, § 5461; Laws, 1936, ch. 187.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 3 - POWER DISTRICTS (§§ 77-5-101 — 77-5-173) › Section 77-5-159 - Operations outside of state authorized

To the extent necessary in the judgment of the board to make effective the powers conferred by this article, the district shall have the power to acquire, own, operate, maintain and/or improve a generating and/or transmission system or systems outside the State of Mississippi.
Codes, 1942, § 5448; Laws, 1936, ch. 187.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 3 - POWER DISTRICTS (§§ 77-5-101 — 77-5-173) › Section 77-5-161 - Issuance of bonds by district

Each district shall have power and is hereby authorized from time to time to issue its bonds in anticipation of its revenues. Said bonds may be issued for any corporate purpose or purposes of such district. Said bonds shall be authorized by resolution of the board of such district and may be issued in one or more series, may bear such date or dates, mature at such time or times not exceeding forty years from their respective dates, be in such denominations, be in such form, either coupon or registered, be executed in such manner, be payable in such medium of payment, at such place or places, be subject to such terms of redemption, with or without premium, and be declared or become due before the maturity date thereof, as such resolution or resolutions may provide. Said bonds may be issued for money or property, at public or private sale for such price or prices, as the board shall determine, provided that the interest cost to maturity of the money or property (at its value as determined by such board, the determination of which shall be conclusive), received for any issue of said bonds, shall not exceed six (6) per centum per annum, payable semiannually. Said bonds may be repurchased by the district out of any funds available for such purpose at a price of not more than the principal amount thereof and accrued interest, and all bonds so repurchased shall be canceled. Pending the preparation or execution of definitive bonds, interim receipts or certificates or temporary bonds may be delivered to the purchaser of said bonds. Any provision of law to the contrary notwithstanding, any bonds and the interest coupons appertaining thereto, if any, issued pursuant to this article shall possess all of the qualities of negotiable instruments.
Codes, 1942, § 5454; Laws, 1936, ch. 187.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 3 - POWER DISTRICTS (§§ 77-5-101 — 77-5-173) › Section 77-5-163 - Rights and remedies of bondholders

In addition to all other remedies, any holder of a bond of any district incorporated under this article, including a trustee for bondholders, shall have the right, subject to any contractual limitations binding upon such bondholders or trustee, and subject to the prior or superior rights of others:
(a)
By mandamus or other suit, action or proceeding, at law or in equity, to enforce his rights against such district and the board of such district, including the right to require such district and such board to fix and collect rates and charges adequate to carry out any agreement as to, or pledge of, the revenues produced by such rates or charges, and to require such district and such board to carry out any other covenants and agreements with such bondholder and to perform its and their duties under this article.
(b)
By action or suit in equity to enjoin any acts or things which may be unlawful or a violation of the rights of such bondholder.
(c)
By action or suit in equity to require such board to account as if it were the trustee of an express trust for such bondholder.
(d)
By suit, action or proceeding in court exercising equitable jurisdiction to obtain the appointment of a receiver of the utility or utilities owned or operated by the district, or any part or parts thereof, who may enter and take possession of such utility or any part or parts thereof, including all property, land, property rights, easements and other adjuncts of the utility. Such receiver may operate and maintain the same, and collect and receive all revenues thereafter arising therefrom in the same manner as such district itself might do, and shall deposit all such moneys in a separate account or accounts and apply the same in accordance with the obligations of such district as the court shall direct.
Codes, 1942, § 5455; Laws, 1936, ch. 187.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 3 - POWER DISTRICTS (§§ 77-5-101 — 77-5-173) › Section 77-5-165 - Reduction of rates

After all proper charges against the revenues of a district have been made, any surplus remaining shall be devoted solely to the reduction of rates.
Codes, 1942, § 5457; Laws, 1936, ch. 187.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 3 - POWER DISTRICTS (§§ 77-5-101 — 77-5-173) › Section 77-5-167 - Moneys of districts

All moneys of a district, from whatever source derived, shall be deposited in one or more banks or trust companies, and, if the district shall so require, each of such accounts shall be continuously secured by a pledge of direct obligations of the United States of America or of the State of Mississippi having an aggregate market value, exclusive of accrued interest, at all times at least equal to the balance on deposit in such account or accounts. Such securities shall either be deposited with the district or held by a trustee or agent satisfactory to the district. In lieu of any such pledge of such securities, said deposits may be secured by a surety bond or bonds which shall be in form, sufficiency and substance satisfactory to the district.
Codes, 1942, § 5458; Laws, 1936, ch. 187.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 3 - POWER DISTRICTS (§§ 77-5-101 — 77-5-173) › Section 77-5-169 - Municipal and county aid to districts

Any municipality situated within the territorial limits of a district and any county a part of which is so situated, may advance funds to such district to pay the preliminary organization and administration expenses thereof, on such terms of repayment as the governing body of such municipality or county shall determine. Notwithstanding the provisions of any law to the contrary, any such municipality or county is authorized and empowered to borrow money for a period not to exceed one year from the date of such borrowing, for the purpose of making such advances.
Codes, 1942, § 5456; Laws, 1936, ch. 187.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 3 - POWER DISTRICTS (§§ 77-5-101 — 77-5-173) › Section 77-5-171 - Districts and their property subject to taxation

All districts and their property shall be liable for taxes and shall be taxed and assessed in the same manner and to the same extent as privately owned utilities.
Codes, 1942, § 5459; Laws, 1936, ch. 187.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 3 - POWER DISTRICTS (§§ 77-5-101 — 77-5-173) › Section 77-5-173 - Declaration of purpose; construction; article complete in itself

This article is for the public purpose of promoting the increased use of electricity in the urban and rural areas of this state, and of enabling the residents thereof to secure the benefit of the surplus power generated or to be generated by the Tennessee Valley Authority at Wilson Dam in the State of Alabama, or the power generated at any other works or dams. The powers granted by this article shall be liberally construed to effectuate the purposes hereof, and to this end every district shall have power to do all things necessary or convenient to carry out the purposes hereof in addition to the powers expressly conferred in this article. This article is complete in itself and shall be controlling. The provisions of any other law, general, special or local, except as provided in this article, shall not limit or restrict the powers granted by this article.
Codes, 1942, § 5460; Laws, 1936, ch. 187.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-201 - Short title

This article may be cited as the "Electric Power Association Law."
Codes, 1942, § 5463; Laws, 1936, ch. 184.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-205 - Formation of non-profit corporations authorized

Three (3) or more natural persons may, by executing, filing and recording a certificate as hereafter provided in this article, form a corporation not organized for pecuniary profit for the purpose of promoting and encouraging the fullest possible use of electric energy by making electric energy available at the lowest cost consistent with sound economy and prudent management of the business of such corporations. In addition, such corporations may serve the purposes provided under the Mississippi Broadband Enabling Act.
Codes, 1942, § 5464; Laws, 1936, ch. 184.
Amended by Laws, 2019, ch. 301, HB 366,§ 9, eff. 1/30/2019.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-207 - Contents of certificate of incorporation

The certificate of incorporation shall state:
(a)
The name of the corporation, which name shall include the words "electric power association" or "electric cooperative" and shall be such as to distinguish it from any other corporation organized and existing under the laws of this state.
(b)
The location of its principal office and the post-office address thereof.
(c)
The maximum number of directors, not less than three (3).
(d)
The names and post-office addresses of the directors who are to manage the affairs of the corporation for the first year of its existence, or until their successors are chosen.
(e)
The period of the duration of the corporation, which may be perpetual.
(f)
The terms and conditions upon which persons shall be admitted to membership in the corporation.
The certificate of incorporation may also contain any provisions not contrary to law which the incorporators may choose to insert for the regulation of its business and for the conduct of the affairs of the corporation. It may also contain any provisions creating, defining, limiting or regulating the powers of the corporation, its directors and members.
Codes, 1942, § 5466; Laws, 1936, ch. 184; Laws, 1938, ch. 252.
Amended by Laws, 2016, ch. 387, HB 1139, 2, eff. 7/1/2016.
Amended by Laws, 2014, ch. 332, SB 2018, 1, eff. 3/13/2014.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-209 - Prohibition on use of words "electric power association" and "electric cooperative."

The name of a corporation shall include either the words "electric power association" or "electric cooperative." The words "electric power association" and the words "electric cooperative" shall not be used in the corporate name of any corporation other than those formed pursuant to the provisions of this article or those operating under this article pursuant to Section
77-5-213
. Whenever the words "electric power association" or "electric cooperative" or "nonprofit cooperative electric power association" appear in the laws of this state, such words shall refer to a corporation formed pursuant to and/or operating under the provisions of this article, including a corporation that uses either the words "electric power association" or "electric cooperative" in its name.
Codes, 1942, § 5467; Laws, 1936, ch. 184.
Amended by Laws, 2016, ch. 387, HB 1139, 3, eff. 7/1/2016.
Amended by Laws, 2014, ch. 332, SB 2018, 2, eff. 3/13/2014.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-211 - Execution and filing of certificate of incorporation

The natural persons executing the certificate of incorporation shall be residents of the territory in which the principal operations of the corporation are to be conducted, who are desirous of using electric energy to be furnished by the corporation. The certificate of incorporation shall be acknowledged by the subscribers before any officer authorized to take acknowledgments to deeds or other instruments. When so acknowledged, the certificate may be filed with the Secretary of State at any time thereafter within six (6) months of the date of the last acknowledgment. When submitted for filing, the Secretary of State shall accept and file the certificate and enter the date of filing in its records. The certificate of incorporation shall be effective as of the date on which the certificate of incorporation is filed with the Secretary of State, and the powers specified in the certificate of incorporation shall thereupon be vested in the corporation without further formalities.
Codes, 1942, § 5468; Laws, 1936, ch. 184.
Amended by Laws, 2016, ch. 387, HB 1139, 4, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-213 - Chartering existing corporations under this article

Any existing corporations under the laws of the State of Mississippi organized for the same general purposes as the corporations provided for by this article may be chartered under this article by filing with the secretary of state a certificate, approved by a majority of the board of the corporation, signed by the duly authorized officer or officers thereof, and acknowledged by the subscribers before any officer authorized to take acknowledgments to deeds or other instruments. Such certificate shall set forth the information required under Section
77-5-207
for corporations organizing under this article, shall declare the intention of the corporation to operate under this article, and shall be filed in the office of the secretary of state, who shall forthwith cause this certificate to be handled in the manner prescribed in Section
77-5-211
for original certificates of incorporation. The corporation under its existing name shall thereupon have all the powers and duties set forth in this article, but shall relinquish the powers under its former charter. No debt or other obligation, of or to the corporation, incurred prior to reincorporation under this section, shall be affected thereby. Any act, contract, or covenant heretofore done, made, entered into or performed by any corporation organized under any other law but reincorporating hereunder, is hereby expressly validated if such act, contract, or covenant would have been valid if done, made, entered into or performed under the terms hereof.
Codes, 1942, § 5485; Laws, 1936, ch. 184.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-215 - Amendment of certificate of incorporation

A corporation may amend its certificate of incorporation to change its corporate name, to increase or reduce the number of its directors, or to change any other provisions therein. Notwithstanding any provisions of a corporation's certificate of incorporation to the contrary, if a corporation's certificate of incorporation provides that the period of duration of the corporation is a limited number of years, the corporation may amend its certificate to provide that the duration of the corporation is perpetual if such an amendment is authorized by the board of directors of the corporation pursuant to the affirmative vote of at least two-thirds (2/3) of the directors. Otherwise, and not withstanding any provisions of a corporation's certificate of incorporation to the contrary, a corporation may amend its certificate of incorporation if (a) the amendment is authorized by the board of directors of the corporation pursuant to the affirmative vote of at least two-thirds (2/3) of the directors, and (b) the amendment authorized by the board of directors is ratified by sixty percent (60%) of the corporation's members voting, at either the corporation's annual meeting or at a meeting of the members called for the special purpose of considering and voting on the amendment. Written notice of any meeting at which an amendment to the corporation's certificate of incorporation will be voted on by the members must be sent to the corporation's members at least thirty (30) days prior to the date of the meeting. The notice shall set forth the date, time, location and purpose of the meeting, and identify and describe the purpose of the amendment authorized by the corporation's board of directors. In the event an amendment is fully authorized in accordance with the foregoing, a certificate reflecting the amendment to the certificate of incorporation shall be prepared and executed by the president and by the secretary of the corporation who shall both affirm therein, under oath, that they have been authorized by the corporation to execute and file such certificate. Such certificate of amendment shall then be filed by the corporation in the Office of the Secretary of State, who shall forthwith cause this certificate to be handled in the manner prescribed in Section
77-5-211
for original certificates of incorporation; and the amendment of the corporation's certificate or articles of incorporation shall be effective as of the date on which the certificate of amendment is filed with the Secretary of State, and the powers specified in the certificate of amendment shall thereupon be vested in the corporation without further formalities.
Codes, 1942, § 5483; Laws, 1936, ch. 184.
Amended by Laws, 2016, ch. 387, HB 1139, 5, eff. 7/1/2016.
Amended by Laws, 2014, ch. 333, SB 2017, 1, eff. 3/13/2014.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-217 - Consolidation of corporations

Any two (2) or more corporations may enter into an agreement for the consolidation of such corporations. Such agreement, which may or may not require the dissolution of one or both of the corporations as provided in Section
77-5-219
, shall set forth the terms and conditions of the consolidation, the name of the proposed consolidated corporation, the number of its directors, who shall be not less than three (3), the time of the initial meeting of the consolidated corporation and election of directors, and the name of at least three (3) persons to serve as directors until the election of directors at the initial meeting. To be effective, any such agreement must be (a) authorized by the board of directors of each corporation pursuant to the affirmative vote of at least two-thirds (2/3) of the directors of each corporation, and (b) ratified by sixty percent (60%) of each corporation's members voting, at either the corporation's annual meeting or at a meeting of the members called for the special purpose of considering and voting on the agreement for consolidation. If the agreement is so authorized and ratified, a joint application for approval of consolidation shall be filed by the consolidating corporations with the Mississippi Public Service Commission in the manner provided by Section
77-3-23
. In no event shall another party be allowed to intervene in a proceeding initiated under this section for the purpose of seeking to obtain the certificated area, or any portion thereof, of any petitioning party. Upon approval of the application by the commission, the directors named in the consolidation agreement shall subscribe and acknowledge a certificate conforming substantially to an original certificate of incorporation, except that it shall be entitled and indorsed "certificate of consolidation of ____________________" (the blank space being filled in with the names of the corporations being consolidated) and shall state:
(a)
The names of the corporations being consolidated.
(b)
The name of the consolidated corporation.
(c)
The other items required or permitted to be stated in a corporation's original certificate of incorporation.
Such certificate of consolidation shall be filed with the Secretary of State in the same manner as provided in Section
77-5-211
. Upon such filing, the proposed consolidated corporation, under its designated name, shall be and constitute a body corporate with all the powers of a corporation as originally formed under the provisions of this article.
Codes, 1942, § 5480; Laws, 1936, ch. 184.
Amended by Laws, 2016, ch. 387, HB 1139, 6, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-219 - Dissolution of corporation

Upon complying with the requirements of Section
77-5-217
or
77-5-237
, a corporation may be dissolved by filing, as hereinafter provided, a certificate which shall be entitled and indorsed "certificate of dissolution of ____________________ " (the blank space being filled in with the name of the corporation) and shall state:
(a)
Name of the corporation.
(b)
The date of filing of the corporation's most recent certificate of incorporation.
(c)
That the corporation elects to dissolve.
(d)
The name and post-office address of each of its directors, and the name, title and post-office address of each of its officers.
Such certificate shall be subscribed and acknowledged in the same manner as an original certificate of incorporation by the officers of the corporation, who shall make and annex an affidavit stating that the corporation has complied with the requirements of Section
77-5-217
or Section
77-5-237
and that they have been authorized to execute and file such certificate.
A certificate of dissolution and a certified copy or copies thereof shall be filed in the same place as an original certificate of incorporation and thereupon the corporation shall be deemed to be dissolved.
Such corporation shall continue for the purpose of paying, satisfying and discharging any existing liabilities or obligations and collecting or liquidating its assets, and doing all other acts required to adjust and wind up its business and affairs, and may sue and be sued in its corporate name. Any assets remaining after all liabilities or obligations of the corporation have been satisfied or discharged shall be ratably distributed to the members thereof.
Codes, 1942, § 5482; Laws, 1936, ch. 184.
Amended by Laws, 2016, ch. 387, HB 1139, 7, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-221 - Board of directors

A corporation shall have a board of directors, and the powers of the corporation shall be vested in and exercised by such board of directors. The directors of the corporation, other than those named in a certificate of incorporation, shall be elected annually by the members entitled to vote. The initial directors of the corporation, including directors elected to succeed those named in a certificate of incorporation, shall be elected as follows: one-third (1/3) to be elected for a term of one (1) year, one-third (1/3) for a term of two (2) years, and one-third (1/3) for a term of three (3) years. Thereafter, all directors shall be elected for a term of three (3) years, or for such other term(s) as may be subscribed by the corporation's certificate of incorporation. Only members of the corporation shall be entitled to vote. The directors of a corporation must be members of the corporation. In order to qualify as a candidate for director of a corporation by petition, a candidate shall obtain not less than fifty (50) signatures of members of the corporation on whose board such candidate wishes to serve; however, a corporation shall be empowered, in its discretion, to adopt, through its bylaws, provisions which allow a person to qualify as a candidate for director by petition by obtaining less than fifty (50) signatures or by other less restrictive means. The directors shall be entitled to reimbursement for expenses incurred by them in the performance of their duties. In addition to reimbursement for expenses, the board may authorize compensation and benefits to be paid to and on behalf of such directors for the performance of their duties, including for the time it takes for them to travel to and from meetings and to board functions. The board shall elect periodically from its own number officers as prescribed by the corporation's bylaws. Directors may elect to attend the board meetings by telephone or video conference. All board meetings, unless in executive session, shall be open to any member of a corporation. Subject to the limitations below, any member or customer of a corporation shall be entitled to address the board at any regular meeting regarding any suggestions for better service, grievances or any other matter affecting the corporation. The board shall have the right to impose reasonable limitations upon the number of members or customers addressing any one (1) board meeting and the amount of time allotted to each presentation, and also to require members and customers to give the board reasonable advance notice of their desire to address the board so that the board may investigate and be able to respond to the presentation.
Codes, 1942, § 5469; Laws, 1936, ch. 184; Laws, 1966, Ex Sess, ch. 34, § 1; Laws, 1984, ch. 332; Laws, 1989, ch. 454, § 1, eff. 3/24/1989.
Amended by Laws, 2016, ch. 387, HB 1139, 8, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-223 - Powers of board of directors

The board of a corporation shall have power to do all things necessary or convenient in conducting the business of the corporation, including, but not limited to:
(a)
To adopt and amend bylaws for the management and regulation of the affairs of the corporation. The bylaws of a corporation may make provisions, not inconsistent with law or its certificate of incorporation, regulating the admission, withdrawal, suspension or expulsion of members; the transfer of membership; the fees and dues of members and the termination of memberships on nonpayment of dues or otherwise; the numbers, times and manner of choosing, qualifications, terms of office, official designations, powers, duties and compensation of its officers; defining a vacancy in the board or in any office and the manner of filling it; the number of members to constitute a quorum at meetings; the date of the annual meeting and the giving of notice thereof and the holding of special meetings and the giving of notice thereof; the terms and conditions upon which the corporation is to render service to its members; the disposition of the revenues and receipts of the corporation; regular and special meetings of the board and the giving of notice thereof; and such other matters as the board may deem appropriate or desirable.
(b)
To appoint agents and employees and to fix their compensation and benefits and the compensation and benefits of the officers of the corporation.
(c)
To execute all instruments or documents, or to delegate the execution thereof.
(d)
To delegate to one or more of the directors or to the officers, agents and employees of a corporation such powers and duties as it may deem proper.
(e)
To make its own rules and regulations as to its procedure.
(f)
To appoint such committees as the board shall in its judgment see fit, which committees may consist of members or nonmembers of either the board or the corporation.
(g)
To cause the corporation to reimburse directors for expenses incurred by them in the performance of their duties and to fix compensation and benefits to be paid to and on behalf of directors for the performance of their duties.
Codes, 1942, § 5470; Laws, 1936, ch. 184.
Amended by Laws, 2016, ch. 387, HB 1139, 9, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-225 - Membership in corporation

Except as hereinafter provided, the corporate purpose of a corporation shall be to render service to its members only. Any person may become and remain a member if such person shall use energy supplied by such corporation and shall comply with the terms and conditions in respect to membership contained in the bylaws of such corporation, which terms and conditions shall be nondiscriminatory. Any person who shall agree to use energy supplied by the corporation from an existing line or from a line the construction of which has been authorized or commenced by the corporation may be admitted to membership in the corporation prior to such use upon complying with the other terms and conditions with respect to membership contained in the certificate of incorporation or in the bylaws. The membership fee of the corporation shall be fixed by the board of directors. Should the corporation acquire any electric facilities already dedicated or devoted to the public use it may, for the purpose of continuing existing service and avoiding hardship, continue to serve the persons served directly from such facilities at the times of such acquisition without requiring that such persons become members. In no event shall the number of such nonmembers served exceed forty-nine percent (49%) of the total number of persons served by the corporation. Such nonmember customers shall have the right to become members upon nondiscriminatory terms.
Codes, 1942, § 5472; Laws, 1936, ch. 184.
Amended by Laws, 2016, ch. 387, HB 1139, 10, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-227 - Certificate of membership; voting

A corporation may issue to its members certificates of membership in such form as the bylaws may prescribe. Each member shall be entitled to only one (1) vote on each matter submitted to a vote at the meetings of the members of the corporation, but voting by proxy, by mail or electronically may be provided for in the bylaws.
Codes, 1942, § 5471; Laws, 1936, ch. 184; Laws, 1938, ch. 252.
Amended by Laws, 2014, ch. 331, SB 2021, 1, eff. 3/13/2014.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-229 - General powers of corporation

A corporation is hereby vested with all power necessary or requisite for the accomplishment of its corporate purpose, and no enumeration of particular powers hereby granted in this article shall be construed to impair any general grant of power herein contained, or to limit any such grant to a power or powers of the same class or classes as those so enumerated.
Codes, 1942, § 5473; Laws, 1936, ch. 184.
Amended by Laws, 2016, ch. 387, HB 1139, 11, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-233 - Operations outside of state authorized

To the extent necessary in the judgment of its board to make effective the powers conferred by this article, a corporation shall continue to have the power to acquire, construct, own, invest in, operate, maintain, and/or improve generating and/or transmission assets.
Codes, 1942, § 5475; Laws, 1936, ch. 184.
Amended by Laws, 2016, ch. 387, HB 1139, 13, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-239 - Power of corporation to incur obligations and liabilities, borrow money, issue notes, bonds, etc

A corporation shall have the power to incur obligations and liabilities, borrow money, issue notes, bonds, certificates of indebtedness and other obligations, and to enter into contracts of guaranty.
Codes, 1942, § 5477; Laws, 1936, ch. 184; Laws, 1970, ch. 423, § 2, eff. 3/26/1970.
Amended by Laws, 2016, ch. 387, HB 1139, 15, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-241 - Interest rates

Any note, bond, or other indebtedness issued by a corporation may bear such interest rate or rates as may be determined by the board of directors of the corporation.
Codes, 1942, § 5477.5; Laws, 1970, ch. 423, § 3, eff. 3/26/1970.
Amended by Laws, 2016, ch. 387, HB 1139, 16, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-243 - Power to execute and deliver instruments to create security interest in corporation property

A corporation shall have the power to execute and deliver any of one or more mortgages, deeds of trust, financing statements, or other instruments to secure debt covering, or to create by other means a security interest in, any or all of the real or personal property assets, rights, privileges, licenses, franchises, and permits of the corporation or any interest therein, as well as the revenues therefrom, whether acquired or to be acquired wherever situated, for the purpose of securing the payment or performance of any one or more contracts, notes, bonds, or other obligations of the corporation.
Codes, 1942, § 5478; Laws, 1936, ch. 184.
Amended by Laws, 2016, ch. 387, HB 1139, 17, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-245 - Purchase and cancellation of bonds

A corporation shall have power out of any funds available therefor to purchase any bonds issued by it at a price not exceeding the principal amount thereof and accrued interest thereon. All bonds so purchased shall be canceled.
Codes, 1942, § 5479; Laws, 1936, ch. 184.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-247 - Monies of corporations

All monies of a corporation from whatever source derived, shall be deposited or prudently invested in one or more banks, trust companies, or financial institutions, as may be approved by the board of directors, and, if the corporation shall so require, each of such accounts shall be continuously secured by a pledge of direct obligations of the United States of America or of the State of Mississippi having an aggregate market value, exclusive of accrued interest, at all times at least equal to the balance on deposit in such account or accounts, or otherwise insured by the Federal Deposit Insurance Corporation by whatever mechanism the corporation's board may deem appropriate.
Such securities shall either be deposited with the corporation or held by a trustee or agent satisfactory to the corporation. In lieu of any such pledge or such securities, said deposits may be secured by a surety bond or bonds which shall be in form, sufficiency and substance satisfactory to the corporation.
Codes, 1942, § 5484; Laws, 1936, ch. 184.
Amended by Laws, 2016, ch. 387, HB 1139, 18, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-249 - Corporations and their property subject to taxation

A corporation and its property shall be taxed and assessed in accordance with the laws of the State of Mississippi.
Codes, 1942, § 5486; Laws, 1936, ch. 184.
Amended by Laws, 2016, ch. 387, HB 1139, 19, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-251 - Construction of article; article complete in itself

This article is to be liberally construed, and the enumeration of any object, power, manner, method or thing shall not be deemed to exclude like or similar objects, purposes, powers, manners, methods or things.
This article is complete in itself and shall be controlling. The provisions of any other law, general, special or local, except as provided in this article, shall not limit or restrict the powers of any corporation formed under this article.
Codes, 1942, §§ 5487, 5489; Laws, 1936, ch. 184.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-253 - Annual financial and compliance audits

All corporations created under this article shall submit annual financial and compliance audits to the Mississippi Public Service Commission and Public Utilities Staff for review and archiving.
Laws, 1989, ch. 454, § 3; Laws, 2009, ch. 546, § 20, eff. 4/15/2009.
Amended by Laws, 2016, ch. 387, HB 1139, 20, eff. 7/1/2016.
Mississippi Code 1972 (2023) › Title 77 - PUBLIC UTILITIES AND CARRIERS (§§ 77-1-1 — 77-NEW-NEW-004) › Chapter 5 - ELECTRIC POWER (§§ 77-5-1 — 77-5-911) › Article 5 - ELECTRIC POWER ASSOCIATIONS (§§ 77-5-201 — 77-5-259) › Section 77-5-255 - Mediation of disputes between members or customers and electric power associations

(1)
Subject to the limitations herein, the Public Service Commission shall investigate, review and mediate any dispute which qualifies as specified herein between a member or customer and the corporation of which he is a member. The minimum amount of a dispute which shall qualify for mediation under this section shall be:
(a)
One Thousand Dollars ($1,000.00) which has accumulated over the past twelve (12) months or
(b)
ten percent (10%) of the cumulative previous twelve (12) months' billing, whichever shall be the lesser. Investigation, review and mediation shall be commenced upon the filing of a petition with the Public Service Commission by a corporation or a member or customer of a corporation; provided, however, that the Public Service Commission shall not commence any proceedings nor commence any investigation, review or mediation of any such dispute until it has first been notified by both the member and the corporation of their consent to the investigation, review and mediation. The Public Service Commission also shall not commence any proceedings nor commence any investigation, review or mediation pursuant to such petition if at the time of filing the petition suit has been filed in any court of this state or of the United States with regard to the subject matter of the dispute and in which such corporation and member or customer are parties. Any such petition shall be immediately dismissed if any such suit is filed after filing of the petition with the commission.
(2)
In any mediation proceedings commenced under the provisions of this section, the Public Service Commission may, by order entered on its minutes and delivery of a certified copy thereof to the corporation, direct the corporation and the member or customer to provide the Public Service Commission with copies of all statements, accounts and reports concerning the dispute which the Public Service Commission may require. The Public Service Commission is further authorized to conduct and may conduct, or request the Public Utilities Staff to conduct, investigation and mediation of the dispute and may negotiate with the corporation and the member or customer for the resolution thereof. In every mediation proceeding under this section the Public Service Commission may perform only such duties relating to the dispute as it deems reasonable and likely to result in settlement of the dispute between the corporation and the member or customer.
(3)
Participation and continued participation in any investigation, proceeding, negotiation or mediation under the provisions of this section shall be voluntary by the corporation and the member or customer.
Laws, 1989, ch. 454, § 4, eff. 3/24/1989.
Amended by Laws, 2016, ch. 387, HB 1139, 21, eff. 7/1/2016.