Title 46 — Title 46

This part shall be known as the ‘‘Georgia Territorial Electric Service Act.’’ (Ga. L. 1973, p. 200, § 1.)

Whereas certain political subdivisions of this state now own and operate electric distribution systems to serve their citizens, inhabitants, and customers by providing them electricity for all purposes; and whereas, if such political subdivisions are to furnish, and if the member…

As used in this article, the term: (1) ‘‘Authority’’ means the Municipal Electric Authority of Georgia and any successor thereto. Any change in name or composition of the authority shall in no way affect the vested rights of any person under this article or impair the obligations…

Any vacancy in the membership of the authority shall be filled by a new member who shall be elected by the remaining members of the authority and who shall serve until the next meeting of the election committee. At the first meeting of the election committee following the filling…

The authority shall elect from its membership a chairman, a vice-chairman, a secretary-treasurer, and an assistant secretary-treasurer. Such officers shall serve for such terms as shall be prescribed by resolution of the authority or until their successors are elected and qualifi…

All electric membership corporations which furnish service in the State of Georgia and all municipalities, whether incorporated by this state or not, 137 Page: 138 Job Path: @mfgmic/west/stcodes/ga/repl/qj04040.63 Date: 06/30/04 Time: 20:52:47 0000 42051-21 (QS) GA 04 RV34 -- 3rd…

The election committee shall have the power to remove from office any member of the authority for cause after written notice and public hearing. (Ga. L. 1975, p. 107, § 4.) 46-3-124. Books and records generally.

The authority shall keep suitable books and records of all its obligations, contracts, transactions, and undertakings; of all income and receipts of every nature; and of all expenditures of every kind. (Ga. L. 1975, p. 107, § 4.) 46-3-125. Purpose of authority.

The purpose of the authority shall be to acquire or construct, or to acquire and construct, and to operate and maintain, or to cause to be constructed, operated, and maintained, electric generation and transmission facilities. In addition, it shall be the purpose of the authority…

The authority shall have all powers necessary or convenient to carry out and effectuate the purpose and provisions of this article including, but without limiting the generality of the foregoing, the power: (1) To sue and be sued in contract and in tort and to complain and defend…

At any time, upon its own complaint or the complaint of any other electric supplier or any other interested party, the commission shall have the authority and jurisdiction, after notice to all affected electric suppliers and other interested parties, and after a hearing, to enfor…

The political subdivisions with which the authority shall be authorized to contract to provide an electric power supply pursuant to this article shall be those political subdivisions of this state which, on March 18, 1975, owned and operated an electric distribution system. (Ga. …

In all cases where the authority has adopted a resolution for the issuance of revenue bonds, and where notice has been duly served upon the district attorney for the purpose of securing a judicial validation of such bonds and the security therefor, and where, in such case, there …

(a) In the discretion of the authority, any issue of revenue bonds may be secured by a trust agreement or indenture made by the authority with a corporate trustee, which may be any trust company or bank having the powers of a trust company within or without this state. Such trust…

(a) If any bond becomes mutilated or is lost, stolen, or destroyed, the authority may execute and deliver a new bond of like date of issue, maturity date, principal amount, and interest rate per annum as the bond so mutilated, lost, stolen, or destroyed, which new bond shall have…

Interest shall cease to accrue on any bond on the date that such bond becomes due for payment if said payment is made or duly provided for, but liability for such bond and for the accrued interest thereon shall continue until such bond is 20 years overdue for payment. At that tim…

Legislative findings and declaration of policy. Definitions. Assignment or declaration as unassigned areas-B of geographic areas outside municipal limits as of March 29, 1973. Assignment of geographic areas within municipal limits as of March 29, 1973. Assignment and unassignment…

Unless otherwise directed by the authority, every evidence of indebtedness and interest coupon paid or otherwise retired shall forthwith be marked ‘‘canceled’’ and shall be delivered by the paying agent making payment thereof to the authority, whereupon the evidence of indebtedne…

The fiscal officer of the authority or his agent shall maintain records containing a full and correct description of each evidence of indebtedness issued, identifying it and showing its date, issue, amount, interest rate, payment dates, payments made, registration, cancellation, …

The authority may appoint one or more paying agents for each issue or series or installment of bonds. Every such paying agent shall be an incorporated bank or trust company authorized by the laws of the United States or of the state in which it is located to do a banking or trust…

(a) The authority shall have the power and is authorized, whenever revenue bonds of the authority have been validated as provided in Code Section 46-3-131, to issue from time to time its negotiable notes in anticipation of the issuance of such bonds as validated and to renew from…

Notwithstanding any other law to the contrary, every evidence of indebtedness issued under this article shall have all the rights and incidences of negotiable instruments, subject to provisions for registration. (Ga. L. 1975, p. 107, § 15.) 46-3-145. Liability of members of autho…

While any of the bonds or notes issued by the authority remain outstanding, the powers, duties, or existence of the authority or of its officers, employees, or agents shall not be diminished, impaired, or affected in any manner which will affect adversely the interest and rights …

Any action to protect or enforce any rights under this article brought in the courts of this state shall be brought in the Superior Court of Fulton County. Any action pertaining to validation of the bonds issued under this article and pertaining to validation of the contracts con…

Meetings of the authority shall be subject to Chapter 14 of Title 50. All records of the authority shall be subject to Article 4 of Chapter 18 of Title 50. (Ga. L. 1975, p. 107, § 25.) 46-3-154. Supplemental nature of powers conferred by article.

The provisions of this article shall be regarded as supplementary and additional to and cumulative of powers conferred by other laws and shall not be regarded as being in derogation of any powers conferred by any other law. (Ga. L. 1975, p. 107, § 29.) 46-3-155. Construction of a…

This article, being for the welfare of the state and its inhabitants, shall be liberally construed to effect the purposes hereof. (Ga. L. 1975, p. 107, § 28.)

This article may be cited as the ‘‘Georgia Electric Membership Corporation Act.’’ (Ga. L. 1937, p. 644, § 1; Code 1933, § 34C-101, enacted by Ga. L. 1981, p. 1587, § 1.)

As used in this article, the term: (1) ‘‘Address’’ means a complete mailing address, including, whenever practicable, street and number or building and floor. (2) ‘‘Articles of incorporation’’ means the original or restated articles of incorporation or articles of consolidation a…

(a) This article shall apply to electric membership corporations but shall not apply to other persons except when expressly so provided in this article. (b) This article shall apply to commerce with foreign nations and among the several states only insofar as the same may be perm…

Except as otherwise provided in Part 1 of Article 1 of this chapter, the ‘‘Georgia Territorial Electric Service Act,’’ electric membership corporations shall not be subject to the jurisdiction of the commission. (Code 1933, § 34C-1802, enacted by Ga. L. 1981, p. 1587, § 1.) 46-3-…

The General Assembly shall at all times have power to prescribe such regulations, provisions, and limitations as it may deem advisable, which regulations, provisions, and limitations shall be binding upon any and all persons which are subject to this article; and the General Asse…

The public interest requires, and it is declared to be the policy of the State of Georgia, that, in order (1) to assure the most efficient, economical, and orderly rendering of retail electric service within the state, (2) to inhibit duplication of the lines of electric suppliers…

An electric membership corporation may serve any one or more of the following purposes: (1) To furnish electrical energy and service; 202 Page: 203 Job Path: @mfgmic/west/stcodes/ga/repl/qj04040.63 Date: 06/30/04 Time: 20:53:37 0000 42051-21 (QS) GA 04 RV34 -- 3rd RUN 46-3-200 (2…

No act of an electric membership corporation and no conveyance or transfer of real or personal property to or by an electric membership corporation shall be invalid by reason of the fact that the electric membership corporation was without capacity or power to do such act or to m…

All persons who assume to act as an electric membership corporation before the Secretary of State has issued the certificate of incorporation to the incorporator or incorporators or his or their attorney shall be jointly and severally liable for all debts and liabilities incurred…

Existence of electric membership corporations under articles of incorporation; duration of corporations; powers of corporations generally. Defense of ultra vires. Unauthorized assumption of corporate powers. Limitations as to actions growing out of acquisition of rights of way, e…

(a) The corporate name shall be written in Roman or cursive letters or Arabic or Roman numbers and: (1) Shall contain the words ‘‘electric membership corporation’’ or an abbreviation of such words; (2) Shall not contain any word or phrase: 210 Page: 211 Job Path: @mfgmic/west/stc…

(a) The exclusive right to the use of a corporate name may be reserved by: (1) Any person intending to organize an electric membership corporation under this article; (2) Any electric membership corporation intending to change its name; (3) Any foreign electric cooperative intend…

(a) Each electric membership corporation shall have and continuously maintain in this state: (1) A registered office which may be, but need not be, the same as its place of business; and (2) A registered agent, which agent may be: (A) A natural person residing in this state whose…

(a) An electric membership corporation may change its registered office or change its registered agent, or both, by executing and filing in the office of the Secretary of State a statement setting forth: (1) The name of the electric membership corporation; (2) The address of its …

(a) The registered agent appointed by an electric membership corporation pursuant to Code Section 46-3-240 shall be an agent of the electric membership corporation upon whom any process, notice, or demand required or permitted by law to be served upon the electric membership corp…

A member shall not, solely by virtue of his status as a member, be liable for the debts of an electric membership corporation; and the property of the member shall not, solely by virtue of his status as a member, be subject to attachment, garnishment, execution, or other collecti…

(a) Meetings of members may be held at such place within the service area of the electric membership corporation as may be provided in the bylaws. In the absence of any such provision, all meetings shall be held at a place within the service area of the electric membership corpor…

(a) Written notice stating the place, day, and hour of the annual meeting of members and, in case of a special meeting, the purpose or purposes for which the meeting is called shall be provided not less than five nor more than 90 days before the date of the meeting by any reasona…

(a) For the purpose of determining members entitled to notice of or to vote at any meeting of members or any adjournment thereof, or in order to make a determination of members for any other proper purpose, the board of directors of an electric membership corporation may provide …

(a) A member shall be entitled to only one vote in the exercise of his rights as a member of an electric membership corporation. (b) No member shall have the right to cumulate his votes by giving one candidate a vote or votes equal to his vote multiplied by the number of director…

(a) To the extent, and only to the extent, authorized by the articles of incorporation or bylaws, a member may be represented at a meeting of the membership, vote thereat, and execute consents or waivers by one or more persons authorized by a written proxy executed by such member…

No member of an electric membership corporation shall, by dissenting from any merger or consolidation to which the electric membership corporation of which he is a member is a party or otherwise, any sale of all or substantially all the assets of such electric membership corporat…

(a) The bylaws of an electric membership corporation may provide for the appointment of a credentials and elections committee composed of 225 Page: 226 Job Path: @mfgmic/west/stcodes/ga/repl/qj04040.63 Date: 06/30/04 Time: 20:53:54 0000 42051-21 (QS) GA 04 RV34 -- 3rd RUN 46-3-27…