When there is held by any cooperative any patronage capital to the credit of a deceased person, in an amount not exceeding $10,000, upon whose estate there shall have been no qualification, it shall be lawful for such electric cooperative, after 120 days from the death of such person, to pay such balance to his or her spouse, and if none, to his or her next of kin, whose receipt therefor shall be a full discharge and acquittance to such electric cooperative to all persons whomsoever on account of such patronage capital.
1999, c. 874.
Structure Code of Virginia
Title 56 - Public Service Companies
Chapter 9.1 - Utility Consumer Services Cooperatives and Utility Aggregation Cooperatives
§ 56-231.16. Organization; purpose
§ 56-231.17. Articles of incorporation
§ 56-231.19. Filing articles of incorporation; effect thereof; other provisions of law applicable
§ 56-231.21. Dissolution and termination of cooperatives
§ 56-231.22. Charter amendments
§ 56-231.23. General powers granted
§ 56-231.24. Power to dispose of property
§ 56-231.25. Power to issue obligations
§ 56-231.26. Covenants in connection with obligations
§ 56-231.27. Power to purchase its own obligations
§ 56-231.28. Board of directors of cooperatives
§ 56-231.29. Powers of board of directors
§ 56-231.30. Rights and liabilities of members
§ 56-231.31. Payment of certain patronage capital to spouse or next of kin of deceased person
§ 56-231.31:1. Donation of certain patronage capital to the cooperative
§ 56-231.32. Service to members
§ 56-231.33. Adequate service; rates
§ 56-231.34. Regulation by Commission
§ 56-231.34:1. Separation of regulated and unregulated businesses
§ 56-231.34:2. Right of action; violation of rules or regulations
§ 56-231.35. Charter fees, etc.
§ 56-231.36. Construction of article; conflicting laws
§ 56-231.37. How article cited
§ 56-231.39. Organization and purpose
§ 56-231.41. Articles of incorporation
§ 56-231.44. Board of directors
§ 56-231.47. Adoption of article
§ 56-231.48. Applicability of other laws
§ 56-231.49. Restructuring costs
§ 56-231.50. Regulation by State Corporation Commission
§ 56-231.50:1. Separation of regulated and unregulated businesses
§ 56-231.50:2. Right of action; violation of rules or regulations