Sec. 4. (a) The articles of incorporation shall be entitled and endorsed either "Articles of Incorporation of _______ Rural Electric Membership Corporation" or Articles of Incorporation of _____________ Rural Electric Cooperative, Inc." (the blank space being filled in with the distinguishing part of the name of the corporation) and shall state the following:
(1) The name of the corporation, which name shall be such as to distinguish it from any other corporation.
(2) A reasonable description of the territory in which its operations are to be conducted, and which shall not include any incorporated city or town having a population in excess of fifteen hundred (1500) inhabitants at the time such articles are first approved by the commission, or any territory, whether within or without any incorporated city or town, already being served with energy by any public or municipally owned utility.
(3) The location of its principal offices and the post office address thereof.
(4) The maximum number of directors, not less than three (3).
(5) The names and post office addresses of the directors, not less than three (3), who are to manage the affairs of the corporation for the first year of its existence, or until their successors are chosen.
(6) The period, if any, limited for the duration of the corporation. If the duration of the corporation is to be perpetual, this fact should be stated.
(7) The terms and conditions upon which members of the corporation shall be admitted.
(b) The articles of incorporation of a corporation may also contain any provision not contrary to law which the incorporators may choose to insert for the regulation of its business and for the conduct of the affairs of the corporation; and any provisions creating, defining, limiting, or regulating the powers of the corporation, its directors and members.
Formerly: Acts 1935, c.175, s.4; Acts 1937, c.258, s.3; Acts 1939, c.105, s.2; Acts 1953, c.48, s.1. As amended by P.L.23-1988, SEC.46.
Structure Indiana Code
Title 8. Utilities and Transportation
Article 1. Utilities Generally
Chapter 13. Rural Electric Membership Corporation Act
8-1-13-2. Incorporation; Purpose
8-1-13-4. Articles of Incorporation
8-1-13-5. Articles of Incorporation; Action by Commission
8-1-13-7. Board of Directors; Powers and Duties
8-1-13-8. Membership Certificates; Meetings of Members
8-1-13-9. Conditions of Membership; Restrictions to Providing Services
8-1-13-10. Powers of Corporation
8-1-13-11. Enumerated Powers of Corporation
8-1-13-12. Sale, Encumbrance, or Other Disposition of Property
8-1-13-13. Obligations in Anticipation of Revenue; Authority to Issue
8-1-13-14. Obligations; Covenants or Agreements
8-1-13-15. Purchase; Own Obligations
8-1-13-16. Consolidation or Merger; Mutual Benefit Corporations
8-1-13-17. Services, Facilities, and Charges; Sinking Fund; Rea Borrowers
8-1-13-18. Rates and Charges; Jurisdiction and Powers of Commission
8-1-13-18.5. Withdrawal From Jurisdiction of Commission
8-1-13-21. Dissolution of Corporation
8-1-13-22. Articles of Incorporation; Amendment; Change of Name; Change of Territory
8-1-13-24. Commission Decisions or Orders; Appeal
8-1-13-25. Construction of Chapter
8-1-13-27. Liability of Members and Directors
8-1-13-28. Rules; Customer Relations; Adoption; Complaints; Procedures
8-1-13-29. Rates, Tolls, and Charges; Schedules; Filing; Approval
8-1-13-32. Investigations; Agents; Powers; Recommendations
8-1-13-33. Uniform Accounts; Requisites
8-1-13-34. Furnishing of Information; Requirement
8-1-13-35. Blank Forms Received; Verification; Delivery of Documents, Books, and Papers
8-1-13-37. Investigation by Commission on Its Own Motion; Rates, Service, or Territory
8-1-13-40. Subpoena Power of Commissioners and Authorized Agents; Enforcement
8-1-13-41. Violations of Chapter; Findings; Just and Reasonable Orders to Be Made
8-1-13-42. Rules; Adoption; Prior Rules Validated
8-1-13-43. Maximum Borrowing and Expenditures for Economic Development