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2000 SESSION

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SB 403 Powers of cooperatives.

Introduced by: Malfourd W. Trumbo | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Powers of cooperatives. Prohibits utility consumer services cooperatives and utility aggregation cooperatives, and their affiliates, from engaging on a not-for-profit basis in business activities (other than regulated electric utility services, unregulated sales of electric power to its members within its certificated service territory, and traditional cooperative activities), unless such business activity is not currently provided by any person other than a cooperative. The State Corporation Commission must first determine that (i) no other person is likely to provide the products or services within a reasonable time or (ii) the co-op's affiliate will not receive the benefit of any federal tax exemption that is not available to persons other than cooperatives and will not receive the benefit of federally guaranteed or subsidized financing not available to non-cooperatives. These restrictions do not apply to the business activities of a cooperative or its affiliate in operation on or before July 1, 1999.


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