Title XXV — INCORPORATION AND REGULATION OF CERTAIN UTILITIES AND CARRIERS

394.010. Designation of chapter. — This chapter may be cited as "The Rural Electric Cooperative Law". ­­-------- (RSMo 1939 § 5386)

394.020. Definitions. — In this chapter, unless the context otherwise requires, (1) "Member" means each incorporator of a cooperative and each person admitted to and retaining membership therein, and shall include a husband and wife admitted to joint membership; (2) "Person" incl…

394.030. Formation of cooperative corporations authorized. — Cooperative, nonprofit, membership corporations may be organized under this chapter for the purpose of supplying electric energy and promoting and extending the use thereof in rural areas. Corporations organized under t…

394.040. Who may organize. — Five or more persons may organize a cooperative in the manner herein provided. ­­-------- (RSMo 1939 § 5391)

394.050. Articles of incorporation — where filed. — 1. The articles of incorporation of a cooperative shall recite in the caption that they are executed pursuant to this chapter, shall be signed and acknowledged in duplicate by at least five of the incorporators and shall state: …

394.060. Name of cooperative shall include what. — The name of each cooperative shall include the words "electric" and "cooperative". The name of a cooperative shall distinguish it from the name of any other corporation organized under the laws of, or authorized to transact busin…

394.070. Corporation may become subject to provisions of chapter, how. — 1. Any corporation organized under the laws of this state for the purpose, among others, of supplying electric energy in rural areas may be converted into a cooperative and become subject to this chapter wit…

394.080. Powers, generally — may supply energy to certain cities, towns and villages, when. — 1. A cooperative shall have power: (1) To sue and be sued, in its corporate name; (2) To have succession by its corporate name for the period stated in its articles of incorporation or, …

394.085. High-speed broadband communications, general assembly declaration on, intent — rural electric cooperative defined — construction of law — offering of services, requirement. — 1. The general assembly declares that expanding and accelerating access to high-speed broadband …

394.090. Articles may be amended, how. — 1. A cooperative may amend its articles of incorporation by complying with the following requirements: (1) The proposed amendment shall be first approved by the board of directors and shall then be submitted to a vote of the members at any…

394.100. Articles to be filed with secretary of state. — 1. Articles of incorporation, amendment, consolidation, merger, conversion, or dissolution, as the case may be, when executed and acknowledged in duplicate and accompanied by such affidavits as may be required by applicable…

394.110. Bylaws to be adopted. — The original bylaws of a cooperative may be adopted by its board of directors or stockholders. Thereafter bylaws shall be adopted, amended or repealed by its members. The bylaws shall set forth the rights and duties of members and directors and ma…

394.120. Qualifications for membership — meetings — rules — board of directors authority on certain matters, expires, when. — 1. No person shall become a member of a cooperative unless such person shall agree to use electric energy furnished by the cooperative when such electric …

394.130. Territory supplied by cooperative may be divided into voting districts. — Notwithstanding any other provision of this chapter, the bylaws may provide that the territory in which a cooperative supplies electric energy to its members may be divided into two or more voting …

394.140. Directors to manage cooperative. — 1. The business and affairs of a cooperative shall be managed by a board of not less than five directors, each of whom shall be a member of the cooperative. The bylaws shall prescribe the number of directors, their qualifications, other…

394.150. Officers — removal. — The officers of a cooperative shall consist of a president, vice president, secretary and treasurer, who shall be elected annually. No person shall continue to hold the offices of president or vice president after he shall have ceased to be a direct…

394.160. Rules and regulations prescribed by public service commission — limitation on jurisdiction of commission. — 1. Every cooperative constructing, maintaining and operating its electric transmission or distribution lines shall construct, maintain and operate such lines in co…

394.170. Revenues of cooperative — disposition. — 1. Revenues of a cooperative for any fiscal year in excess of the amount thereof necessary: (1) To defray expenses of the cooperative and of the operation and maintenance of its facilities during such fiscal year; (2) To pay inter…

394.180. Sale of property by cooperative — membership approval required. — 1. A cooperative may not sell, lease or otherwise dispose of, except by mortgage, or deeds of trust, all or any substantial portion of its property unless such sale, lease, or other disposition is authoriz…

394.190. Effect of mortgage or deed of trust executed by cooperative. — Any mortgage, deed of trust, or other instrument executed by a cooperative or foreign corporation transacting business in this state pursuant to this chapter, which, by its terms, creates a lien upon real and…

394.200. Cooperative of adjacent state may extend lines and transact business in this state, when — service of process on, how made. — 1. Any corporation organized on a nonprofit or a cooperative basis for the purpose of supplying electric energy in rural areas and owning and ope…

394.210. Cooperatives may consolidate, how. — Any two or more cooperatives, each of which is herein designated a "consolidating cooperative", may consolidate into a new cooperative, herein designated "the new cooperative", by complying with the following requirements: (1) The pro…

394.220. Cooperatives may merge, how. — Any one or more cooperatives, each of which is herein designated a "merging cooperative", may merge into another cooperative, herein designated the "surviving cooperative", by complying with the following requirements: (1) The proposition f…

394.230. Effect of consolidation or merger. — The effect of consolidation or merger shall be as follows: (1) The several cooperatives, parties to the consolidation or merger, shall be a single cooperative, which in the case of a consolidation, shall be the new cooperative provide…

394.240. Dissolution of cooperative — procedure. — 1. A cooperative which has not commenced business may dissolve voluntarily by delivering to the secretary of state articles of dissolution, executed and acknowledged in duplicate on behalf of the cooperative by a majority of the …

394.250. Fees to be collected by director of revenue. — 1. There shall be charged and collected for: (1) Filing articles of incorporation, ten dollars; (2) Filing articles of amendment, one dollar; (3) Filing articles of consolidation or merger, ten dollars; (4) Filing articles o…

394.260. Annual fee. — Each cooperative and each foreign corporation transacting business in this state pursuant to this chapter shall pay annually, on or before the first day of July, to the state director of revenue, a fee of ten dollars. ­­-------- (RSMo 1939 § 5413, A.L. 1947…

394.270. Members not to be liable for debts of cooperative. — The private property of the members of a cooperative shall be exempt from execution for the debts of the cooperative and no member shall be liable or responsible for any debts of the cooperative. ­­-------- (RSMo 1939 …

394.280. Provisions of securities law not to apply. — The provisions of the securities law of Missouri shall not apply to any note, bond or other evidence of indebtedness issued by any cooperative or foreign corporation transacting business in this state pursuant to this chapter …

394.290. Acknowledgments, who may take. — No person who is authorized to take acknowledgments under the laws of this state shall 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,…

394.300. Waiver of notice shall be deemed equivalent to such notice, when. — 1. Whenever any notice is required to be given under the provisions of this chapter or under the provisions of the articles of incorporation or bylaws of a cooperative, waiver thereof in writing, signed …

394.310. Chapter to be construed liberally. — This chapter shall be construed liberally. The enumeration of any object, purpose, power, manner, method or thing shall not be deemed to exclude like or similar objects, purposes, powers, manners, methods or things. ­­-------- (RSMo 1…

394.312. Territorial agreements authorized, procedure — public service commission, duties, fees may be set. — 1. Competition to provide retail electric service, as between rural electric cooperatives, electrical corporations and municipally owned utilities may be displaced by wri…

394.315. Definitions — rural electric cooperative exclusive right to serve structures, exception — change of suppliers, procedure — new structure built, effect of. — 1. As used in this section, the following terms mean: (1) "Permanent service", electrical service provided through…