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2000 SESSION
SB 594 Utility consumer services cooperatives.
Introduced by: Thomas K. Norment, Jr. | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Utility consumer services cooperatives; utility aggregation cooperatives. Clarifies the authority of utility consumer services cooperatives to sell retail electricity to their members when the competitive market emerges in 2002. The bill prohibits any electric cooperative conducting regulated utility services from conducting unregulated business activities, other than traditional cooperative activities, except through an affiliate. “Traditional cooperative activities” are defined as businesses, services, or activities in which cooperatives have traditionally engaged in Virginia. In addition, the bill amends and clarifies aspects of cooperative corporate governance and makes certain provisions consistent with Virginia’s existing corporate statutes by (i) eliminating references to the consolidation of cooperatives, (ii) permitting cooperatives to have one or more classes of membership if set forth in the cooperative’s bylaws, and (iii) clarifying that only members of a cooperative can be elected to the board of directors.
SUMMARY AS PASSED SENATE:
Utility consumer services cooperatives; utility aggregation cooperatives. Clarifies the authority of utility consumer services cooperatives to sell retail electricity to their members when the competitive market emerges in 2002. The bill prohibits any electric cooperative conducting regulated utility services from conducting unregulated business activities, other than traditional cooperative activities, except through an affiliate. “Traditional cooperative activities” are defined as businesses, services, or activities in which cooperatives have traditionally engaged in Virginia. In addition, the bill amends and clarifies aspects of cooperative corporate governance and makes certain provisions consistent with Virginia’s existing corporate statutes by (i) eliminating references to the consolidation of cooperatives, (ii) permitting cooperatives to have one or more classes of membership if set forth in the cooperative’s bylaws, and (iii) clarifying that only members of a cooperative can be elected to the board of directors.
SUMMARY AS INTRODUCED:
Utility consumer services cooperatives; utility aggregation cooperatives. Clarifies the authority of utility consumer services cooperatives to sell retail electricity to their members when the competitive market emerges in 2002. The bill prohibits any electric cooperative conducting regulated utility services from conducting unregulated business activities, other than traditional cooperative activities, except through an affiliate. “Traditional cooperative activities” are defined as businesses, services, or activities in which cooperatives have traditionally engaged in Virginia. In addition, the bill amends and clarifies aspects of cooperative corporate governance and makes certain provisions consistent with Virginia’s existing corporate statutes by (i) eliminating references to the consolidation of cooperatives, (ii) permitting cooperatives to have one or more classes of membership if set forth in the cooperative’s bylaws, and (iii) clarifying that only members of a cooperative can be elected to the board of directors.