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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 7. The board shall distribute secret written ballots to the members or shareholders present at the meeting. The form of the ballots must be as follows:
YES, I want to withdraw from the jurisdiction of the commission.
NO, I want to remain under the jurisdiction of the commission.
Each member or shareholder is entitled to one (1) vote, either in person at the meeting or by absentee ballot, on the question of withdrawal from commission jurisdiction. Proxy votes may not be permitted. If a majority of voting members or shareholders vote in favor of the utility withdrawing from commission jurisdiction, the withdrawal becomes effective thirty (30) days after the date of the meeting at which the vote is conducted. If less than a majority of the voting members or shareholders vote in favor of withdrawal from commission jurisdiction, the utility is prohibited from seeking withdrawal for two (2) years following the date of the meeting at which the vote is conducted.
Cite this article: FindLaw.com - Indiana Code Title 8. Utilities and Transportation § 8-1-2.7-7 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-8-utilities-and-transportation/in-code-sect-8-1-2-7-7/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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