117-9. Issuance of privilege for formation of such corporation.
Whenever any such application is made by as many as five members of the community, the North Carolina Rural Electrification Authority shall cause a survey of said territory to be made and if, in its opinion, the proposal is feasible, shall issue to said community a privilege for the formation of a corporation as hereinafter set out. Whenever an application has been filed by any community with the North Carolina Rural Electrification Authority, and its application for formation of an electric membership corporation has been approved, the same may be formed as hereinafter provided. (1935, c. 291, s. 4.)
Structure North Carolina General Statutes
North Carolina General Statutes
Article 2 - Electric Membership Corporations.
§ 117-9 - Issuance of privilege for formation of such corporation.
§ 117-10 - Formation authorized.
§ 117-10.1 - Municipal franchises.
§ 117-10.2 - Restriction on municipal service.
§ 117-11 - Contents of certificate of incorporation.
§ 117-13 - Board of directors; compensation; president and secretary.
§ 117-15 - Certificates of membership.
§ 117-16 - Corporate purpose; terms and conditions of membership.
§ 117-16.1 - Discrimination prohibited.
§ 117-17 - General grant of powers.
§ 117-18 - Specific grant of powers.
§ 117-18.1 - Subsidiary business activities.
§ 117-19 - Taxes and assessments.
§ 117-20 - Encumbrance, sale, etc., of property.
§ 117-22 - Covenants or agreements for security of bonds.
§ 117-23 - Purchase and cancellation of bonds.
§ 117-25 - Amendment of certificate of incorporation.
§ 117-26 - Application for grant or loan from governmental agency.