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Texas Utilities Code - UTIL § 161.201. Consolidation

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Two or more electric cooperatives may enter into an agreement to consolidate the cooperatives. The agreement must state:

(1) the terms of the consolidation;

(2) the name of the proposed consolidated cooperative;

(3) the number of directors of the proposed consolidated cooperative;

(4) the time of the annual meeting and election; and

(5) the names of at least three persons to be directors until the first annual meeting.

(b) A consolidation agreement may be approved only on the votes of a majority of the members of each electric cooperative present in person or represented by proxy at a regular meeting or at a special meeting of its members called for that purpose.

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Cite this article: FindLaw.com - Texas Utilities Code - UTIL § 161.201. Consolidation - last updated January 01, 2024 | https://codes.findlaw.com/tx/utilities-code/util-sect-161-201/

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