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North Carolina General Statutes Chapter 159B. Joint Municipal Electric Power and Energy Act § 159B-49. Associate members

Current as of January 01, 2023 | Updated by Findlaw Staff

Notwithstanding the provisions of Article 1 of Chapter 159B of the General Statutes or any other provision of law, a joint municipal assistance agency may, in its bylaws, create associate memberships. An associate member of a joint municipal assistance agency shall have only those rights, privileges, immunities, powers, authority, and responsibilities as set forth in the bylaws of the joint municipal assistance agency; provided, that:

(1) An associate member shall not have the right to appoint a commissioner or alternate commissioner, have the right to vote or otherwise participate in decisions of the joint municipal assistance agency;

(2) An associate member shall not have the right to a distribution of assets upon dissolution of the joint municipal assistance agency; and

(3) Income from the joint municipal assistance agency shall not accrue to, or otherwise inure to the benefit of, an associate member.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 159B. Joint Municipal Electric Power and Energy Act § 159B-49. Associate members - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-159b-joint-municipal-electric-power-and-energy-act/nc-gen-st-sect-159b-49/

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