Any number of natural persons not less than three may by executing, filing and recording a certificate as provided in this chapter form a corporation not organized for pecuniary profit for the purpose of promoting and encouraging the fullest possible use of electric energy in the state by making electric energy available to inhabitants of the state at the lowest cost consistent with sound economy and prudent management of the business of such corporation.
Structure Code of Alabama
Title 37 - Public Utilities and Public Transportation.
Chapter 7 - Electric Membership Corporations.
Section 37-7-2 - Formation and Purpose Generally.
Section 37-7-3 - Form and Contents of Certificate of Incorporation.
Section 37-7-4 - Persons Executing Certificate to Be Residents; Acknowledgment and Filing.
Section 37-7-5 - Board of Directors - Election; Expenses; President; Secretary.
Section 37-7-6 - Board of Directors - Powers.
Section 37-7-7 - Certificates of Membership; Voting.
Section 37-7-8 - Corporate Purpose; Membership Fees; Service to Nonmembers; Service Outside State.
Section 37-7-9 - Vesting of Powers for Accomplishment of Corporate Purpose.
Section 37-7-10 - Enumerated Powers.
Section 37-7-11 - Encumbering or Disposing of Property.
Section 37-7-12 - Bonds or Obligations - Consent of Department of Finance.
Section 37-7-13 - Bonds or Obligations - Manner of Sale or Issuance.
Section 37-7-14 - Bonds or Obligations - Covenants or Agreements.
Section 37-7-16 - Consolidation.
Section 37-7-15 - Bonds or Obligations - Purchase of Own Obligations.
Section 37-7-17 - Extension of Territory.
Section 37-7-18 - Charges for Services Rendered.
Section 37-7-19 - Dissolution.
Section 37-7-20 - Foreign Corporations.
Section 37-7-21 - Amendment of Certificate of Incorporation.