Arkansas Statutes
§ 23-18-306 — Purposes of cooperatives
Arkansas·Title 23
(a)Organization. Cooperative, nonprofit membership corporations may be organized under this subchapter for the purpose of any one (1) or more of the following:
(1)The furnishing of electricity to persons;
(2)Assisting in the wiring of the premises of persons in rural areas or the acquisition, supply, or installation of electrical or plumbing equipment therein; and (3) The furnishing of electricity, wiring facilities, or electrical or plumbing equipment or services to any other corporation organized under this subchapter or to the members thereof.
(b)Powers. Once properly organized pursuant to subsection (a) of this section, a corporation may engage in any other lawful business activity directly or through one (1) or more affiliates, which its board of directors determines to be benefic
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Legislative History
Acts 1937, No. 342, § 3; Pope's Dig., § 2317; A.S.A. 1947, § 77-1103; 1999, No. 1556, § 12.
Nearby Sections
15
§ 23-1-101
Definitions§ 23-1-103
Compliance with Acts 1935, No. 324, and rules of commission required - Penalties for noncompliance§ 23-1-106
Penalties cumulative - Recovery of penalty not bar to further penalty or criminal prosecution§ 23-1-108
Jurisdiction and venue of actions§ 23-1-110
Actions tried without jury - Exceptions§ 23-1-111
Copies of official papers as evidence§ 23-1-115
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