Title XXIV, Public Utilities

The articles of incorporation may be amended as provided in this section at any regular or special meeting of the members of the corporation duly called upon notice of the specific purpose. The amendment shall first be approved by two-thirds (2/3) of the directors and then adopte…

(1) The incorporators of each corporation organized under this chapter shall adopt for its management bylaws not inconsistent with the powers granted by this chapter. The written consent of a majority of the incorporators, evidenced by their signatures to the bylaws adopted, shal…

(1) Each corporation formed under this chapter shall have a board of directors of not less than five (5) members, which shall be the governing body of the corporation. Unless otherwise provided in the articles of incorporation, directors need not be members of the corporation. Th…

members. (1) No person may become or remain a member of any corporation formed under this chapter with capital stock except a farmer, a person engaged in the production of agricultural products or livestock, a cooperative association as defined in the Farm Credit Act, or a corpor…

A rural electric cooperative shall be operated on a nonprofit basis for the mutual benefit of its members and patrons. The bylaws of a cooperative or its contracts with members and patrons shall contain such provisions relative to the disposition of revenue and receipts as may be…

(1) Only a member of a corporation organized under this chapter may own its common stock, and neither the common stock in any such corporation nor any interest therein shall be transferable or assignable, either by act of the parties or by operation of law, to any person who is n…

Any corporation created under this chapter may: (1) Acquire and hold any property necessary or incidental to the proper conduct of its business, including preferred stock and common stock or other corporations whether formed under this chapter or not, and the stock of any federal…

acquisition of new base load generating facility. (1) Except as provided in subsections (2), (3), and (4) of this section, corporations formed under this chapter shall supply electric energy, furnish services, and sell personal property, except that transferred in part payment fo…

utility -- Exceptions. Notwithstanding the provisions of any other section of the Kentucky Revised Statutes, unless specific authorization is granted by the Public Service Commission, no corporation formed under this chapter shall transmit, distribute or furnish electric energy f…

Any corporation formed under this chapter may issue its obligations and pledge its future revenues for the payment thereof. The obligations may be in the form of bonds, notes, debentures, interim certificates or other evidences of indebtedness. The obligations shall be authorized…

(1) Except as provided in KRS 279.090, 279.120 and 279.130, and in subsection (2) of this section, no corporation formed under this chapter may sell, lease or otherwise dispose of any of its property unless the board of directors is authorized so to do by a majority vote of the t…

No person engaged in the business of producing, selling or distributing electric energy for public use in this state shall refuse to furnish electric energy to any corporation organized under this chapter, if the corporation is able and willing to pay the same rates for such ener…

(1) Any two (2) or more corporations created under this chapter may enter into an agreement for their consolidation. The agreement shall set forth the terms and conditions of the consolidation, the name of the proposed consolidated corporation, the number of its directors, which …

(1) Any corporation formed under this chapter may be dissolved by filing articles of dissolution, which shall be entitled and indorsed "Articles of Dissolution of ...." and shall state: (a) The name of the corporation and, if it is a consolidated corporation, the names of the ori…

(1) For acting upon, filing and recording articles of incorporation, articles of consolidation, articles of dissolution, or amendments to articles of incorporation or consolidation, the corporation shall pay to the Secretary of State a sum not to exceed two dollars ($2) for which…

Corporations formed under this chapter shall be exempt from all profit taxes, gross and net taxes, sales taxes, occupation taxes, privilege taxes, income taxes, taxes on electric current consumed and from all excise taxes whatsoever, any statute now existing or hereafter passed t…

(1) Every corporation formed under KRS 279.010 to 279.220 shall be subject to the general supervision of the Public Service Commission, and shall be subject to all the provisions of KRS 278.010 to 278.450 inclusive, and KRS 278.990. (2) The provisions of the general corporation l…

Limitation. (1) Any rural electric cooperative corporation organized under a law of any state contiguous to this state, which law is substantially similar to the law under which such corporations may be organized in this state, may extend its operations into this state for a dist…

As used in KRS 279.320 to 279.600, unless the context requires otherwise: (1) "Cooperative" means any corporation organized under KRS 279.320 to 279.600 or which becomes subject to those sections in the manner provided therein; (2) "Person" means any natural person, firm, associa…

Any five (5) or more natural persons, a majority of whom are citizens of Kentucky, may, by executing, filing and recording articles of incorporation as provided in KRS 279.330 and 279.350, form a nonprofit cooperative corporation to promote and encourage the fullest possible use …

(1) The articles of incorporation of a corporation formed under KRS 279.310 to 279.600 shall be entitled "Articles of Incorporation of .... Corporation" and the title may include the word "Cooperative." The articles shall satisfy the requirements of KRS 14A.2-010 to 14A.2-150, re…

(1) The name of a cooperative shall satisfy the requirements of KRS 14A.3-010 unless, in an affidavit made by its president or vice president, and filed with the Secretary of State, or in an affidavit made by a person signing articles of incorporation, consolidation, merger or co…

(1) The incorporators shall execute four (4) copies of the articles of incorporation that satisfy KRS 14A.2-010 to 14A.2-150, and each incorporator shall acknowledge each copy before an officer authorized to take acknowledgments of deeds. They shall then deliver for filing the fo…

Each corporation organized under the provisions of KRS 279.310 to 279.600 shall have power: (1) To furnish, improve and expand telephone service in rural areas to its members, to governmental agencies and political subdivisions, and to other persons not in excess of ten percent (…

(1) The incorporators of each corporation organized under KRS 279.310 to 279.600 shall adopt for its management bylaws not inconsistent with the powers granted by KRS 279.310 to 279.600. The written consent of a majority of the incorporators, evidenced by their signatures to the …

(1) The business of a cooperative shall be managed by a board of not less than five (5) trustees, each of whom shall be a member of the cooperative, or of another cooperative which is a member thereof. The bylaws shall prescribe the number of trustees, their qualifications, other…

(1) Each incorporator of a cooperative shall be a member thereof but no other person may become a member thereof unless such other person agrees to use telephone service furnished by the cooperative when it is made available through its facilities. Membership in a cooperative sha…

(1) An annual meeting of the members of a cooperative shall be held at such time and place as shall be provided in the bylaws. (2) Special meetings of the members may be called by the president, by the board of trustees, by any three (3) trustees, or by not less than two hundred …

(1) A cooperative may amend its articles of incorporation by complying with the following requirements, provided, however, that a change of location of principal office may be effected in the manner set forth in KRS 279.420. The proposed amendment shall be presented to a meeting …

A cooperative may, upon authorization of its board of trustees or its members, change the location of its principal office by filing a statement of change in accordance with KRS 14A.5-010.

(1) Only a member of a corporation organized under KRS 279.310 to 279.600 may own its common stock, and neither the common stock in any such corporation or any interest therein shall be transferable or assignable, except as security for a loan from the federal government, either …

(1) Any two (2) or more cooperatives (each of which is hereinafter designated a "consolidating cooperative"), may consolidate into a new cooperative (hereinafter designated the "new cooperative"), by complying with the following requirements of this section. (2) The proposition f…

(1) Any one (1) 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 of this section. (2) The proposition for th…

(1) In the case of a consolidation the 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; and in the case of a merger the separate existence of the merging cooperati…

corporations. (1) Any corporation organized under the laws of this state and furnishing or having the corporate power to furnish telephone service may be converted into a cooperative by complying with the following requirements and shall thereupon become subject to KRS 279.310 to…

(1) Any corporation formed under KRS 279.310 to 279.600 may be dissolved by filing articles of dissolution, which shall be entitled and indorsed "Articles of Dissolution of ...." and shall state: (a) The name of the corporation and, if it is a consolidated corporation, the names …

(1) For acting upon, filing and recording articles of incorporation, articles of consolidation, articles of dissolution, or amendments to articles of incorporation or consolidation, the corporation shall pay to the Secretary of State a sum not to exceed two dollars ($2), for whic…

(1) A cooperative shall be operated on a nonprofit basis for the mutual benefit of its members and patrons. The bylaws of a cooperative or its contracts with members and patrons shall contain such provisions relative to the disposition of revenue and receipts as may be necessary …

board of trustees to encumber or dispose of property. (1) The board of trustees 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, o…

Any mortgage, deed of trust or other instrument executed by a cooperative or foreign corporation doing business in this state pursuant to KRS 279.310 to 279.600, which affects real and personal property and which is recorded in the real property records in any county in which suc…

Corporations formed under KRS 279.310 to 279.600 shall be exempt from all profit taxes, gross and net taxes, sales taxes, occupation taxes, privilege taxes, income taxes, taxes on telephone service and from all excise taxes whatsoever, any statute now existing or hereafter passed…

(1) Every corporation formed under KRS 279.310 to 279.600 shall be subject to the general supervision of the Public Service Commission, and shall be subject to all the provisions of KRS 278.010 to 278.450 inclusive, and KRS 278.530 and 278.990. (2) The provisions of the general c…

The provisions of KRS Chapter 292 shall not apply to any note, bond or other evidence of indebtedness issued by any cooperative or foreign corporation doing business in this state pursuant to KRS 279.310 to 279.600 to the United States of America or any agency or instrumentality …

The bylaws may provide for the division of the territory served or to be served by a cooperative into two (2) or more districts for any purpose, including without limitation, the nomination and election of trustees and the election and functioning of district delegates. Such dele…

Any foreign nonprofit or cooperative corporation furnishing or authorized to furnish telephone service and owning or operating telephone lines or facilities in an adjacent state may construct or acquire extensions of such lines in this state and operate such extensions without co…

Construction of telephone lines and facilities by a cooperative shall, as a minimum requirement, comply with the standards of the National Electrical Safety Code in effect at the time of such construction.