Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 73 - Electric Cooperative Corporations
Section 7332 - Dissolution


An electric cooperative corporation may dissolve only when authorized by the affirmative vote of two-thirds of all the members of the corporation. Any assets remaining after all liabilities or obligations of the corporation have been satisfied or discharged upon dissolution shall be distributed pro rata among the members of the corporation at the time of the filing of the certificate of dissolution.

Structure Pennsylvania Consolidated & Unconsolidated Statutes

Pennsylvania Consolidated & Unconsolidated Statutes

Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS

Chapter 73 - Electric Cooperative Corporations

Extra - Chapter Notes

Section 7301 - Short titles

Section 7302 - Application of chapter

Section 7303 - Definitions

Section 7304 - Number and qualifications of incorporators

Section 7305 - Purpose

Section 7306 - Articles of incorporation

Section 7307 - Prohibition on use of words "electric cooperative."

Section 7308 - Liberal construction

Section 7321 - Special powers and limitations

Section 7322 - Bylaws

Section 7323 - Exemption of members from liability for debts of corporation

Section 7324 - Qualifications of members

Section 7325 - Annual meeting of members

Section 7326 - Voting by members

Section 7327 - Certificates of membership

Section 7328 - Quorum of members

Section 7329 - Directors

Section 7330 - Nonprofit operation

Section 7331 - Merger, division or sale of assets

Section 7332 - Dissolution

Section 7333 - License fee; exemption from excise taxes

Section 7334 - Exemption from jurisdiction of Public Utility Commission

Section 7335 - Limited exemption from Securities Act

Section 7351 - Application of subchapter

Section 7352 - Definitions

Section 7353 - Geographical areas

Section 7354 - Boundaries of certified territories; hearings

Section 7355 - Obligations and rights within certified territory; new electric-consuming facilities

Section 7356 - Borderline service

Section 7357 - Effect of incorporation, annexation or consolidation

Section 7358 - Enforcement of compliance by commission

Section 7359 - Expenses