Title 10 — Corporations
47 chapters · 661 sections in this title.
N.D.C.C. § 10-13-01 Purposes of electric cooperatives
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A cooperative may be organized and operated as an electric cooperative under the general law governing cooperatives and this chapter for the purpose of engaging in rural electrification by any one or more of the following methods: 1. The furnishing of electric energy to persons i…
N.D.C.C. § 10-13-02 Name of electric cooperative
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The name of an electric cooperative must include the words "electric cooperative". The name must be such as to distinguish it from any other cooperative organized and existing under the laws of this state or authorized to do business in this state. Only a cooperative organized su…
N.D.C.C. § 10-13-03 Powers of electric cooperatives
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In addition to the powers granted by the general law governing cooperatives, electric cooperatives have the power: 1. To generate, manufacture, purchase, acquire, and accumulate electrical energy and to transmit, distribute, sell, furnish, and dispose of such electrical energy to…
N.D.C.C. § 10-13-04 Members of electric cooperatives
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All persons who are not receiving central station service and who reside in rural areas proposed to be served by a cooperative organized under this chapter shall be eligible to membership in the cooperative. No person other than the incorporators shall be, become, or remain a mem…
N.D.C.C. § 10-13-05 Nonprofit basis - Rates and fees
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Each electric cooperative shall be operated without profit to its members, but the rates, fees, rents, or other charges for electrical energy and for any other facilities, supplies, equipment, or services furnished by the cooperative shall be sufficient at all times: 1. To pay al…
N.D.C.C. § 10-13-06 Use of revenue - Dividends
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The revenues of an electric cooperative shall be devoted first to the payment of operating and maintenance expenses and the principal and interest on outstanding obligations, and thereafter, to such reserves for improvement, new construction, depreciation, and contingencies as th…
N.D.C.C. § 10-13-07 Excise tax exemption - License fee
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Repealed by S.L. 1965, ch. 97, § 1.
N.D.C.C. § 10-13-08 Exemption from securities law
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The provisions of chapter 10-04 shall not apply to the issuance of membership certificates in electric cooperatives organized under this chapter nor to obligations issued by any such cooperative to secure the repayment of moneys borrowed by the cooperative from or allotted to it …
N.D.C.C. § 10-13-08.1 Electric cooperatives - Sale of physical plant - Approval
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No electric cooperative corporation shall sell, transfer, or convey, within the period of any single calendar year, physical plant in excess of five percent in value of such cooperative corporation, based upon the most recent audit of the books of said cooperative corporation, un…
N.D.C.C. § 10-13-09 Powers of electric cooperative corporation
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Repealed by omission from this code.
N.D.C.C. § 10-13-10 Directors, trustees, officers, and managers - Immunity from civil liability
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The directors, trustees, and officers of an electric cooperative, and the manager of an electric cooperative who is the person most responsible for carrying out the policies and directives of the officers, trustees, or the board of directors, are immune from civil liability for a…