§ 8-1-13-11 — Enumerated powers of corporation

Indiana § 8-1-13-11

• Jurisdiction: Indiana
• Art. 1: UTILITIES GENERALLY
• Ch. 13: Rural Electric Membership Corporation Act

Text

A corporation created under this chapter may
do any and all acts or things necessary or convenient for carrying out
the purpose for which it was formed, including the following powers:
(1) To sue and be sued.
(2) To have a seal and alter the same at pleasure.
(3) To acquire, hold and dispose of property, real and personal,
tangible and intangible, or any interest in the property and to pay
in cash or on credit, and to secure and procure payment of all or
any part of the purchase price on the terms and conditions as the
board shall determine.
(4) To acquire, own, exchange, operate, maintain, and improve a
system or systems.
(5) To pledge all or any part of its revenues or mortgage or
otherwise encumber all or any part of its property for the purpose
of securing the payment of the principal of and interest on any of
its obligations.
(6) To construct, operate, and maintain works across or along any
street or public highway, or over any lands which are now or may
be the property of this state or any political subdivision thereof,
after obtaining the necessary franchise or permit therefor. Before
any works are constructed across or along a highway in the state
highway system, the corporation shall obtain the permit of the
Indiana department of transportation to do so, and the location
and setting of the works shall be approved by and subject to the
supervision of the Indiana department of transportation. Before
any works are constructed on or across lands belonging to the
state, the corporation shall first obtain the permit of the
department of the state having charge of the lands to do so, and
the location and setting of the works shall be approved by and
subject to the supervision of the department. The works shall be
erected and maintained so as not to interfere with the use and
maintenance of the streets, highways, and lands, and no pole or
appliance shall be located so as to interfere with the ingress or
egress from any premises on the street or highway. Nothing in this
section shall deprive the body having charge of the street or
highway to require the relocation of any pole or appliance which
may affect the proper use of the street or highway for public
travel, for drainage or for the repair, construction, or
reconstruction of the street or highway. The corporation shall
restore the street, highway, or lands to its former condition or
state as near as may be and shall not use the same in a manner to
impair unnecessarily its usefulness or to injure the property of
others.
(7) To accept gifts or grants of property, real or personal, from
any person, municipality, or federal agency and to accept
voluntary and uncompensated services.
(8) To make any and all contracts necessary or convenient for the
full exercise of the powers in this chapter granted, including,
without limiting the generality of the foregoing, contracts with
any person, federal agency, or municipality for the purchase of
energy needed by the corporation to supply its members; for the
management and conduct of the business of the corporation; for
the fixing of the rates, fees, or charges for service rendered or to
be rendered by the corporation subject, however, to the approval
of the commission as to all the rates, fees, or charges for energy
in the same manner and to the same extent as is provided by law
for the regulation of the rates, fees, or charges of public utilities.
(9) To sell, lease, mortgage, or otherwise encumber or dispose of
all or any part of its property as provided in this chapter.
(10) To contract debts, borrow money, and to issue or assume the
payment of obligations.
(11) To levy and collect reasonable fees, rents, tolls, and other
charges for service rendered, subject to the approval of the
commission.
(12) To perform any and all of the foregoing acts and to do any
and all of the foregoing things under, through or by means of its
own officers, agents, and employees, or by contracts with any
person, federal agency, or municipality.
(13) To exercise the right of eminent domain in the manner
provided by law.
(14) To recover, after a period of two (2) years, any unclaimed
stocks, dividends, capital credits, patronage refunds, utility
deposits, membership fees, account balances, or book equities for
which the owner cannot be found and are the result of
distributable savings of the corporation returned to the members
on a pro rata basis pursuant to section 17 of this chapter.
Formerly: Acts 1935, c.175, s.11; Acts 1937, c.258, s.7. As
amended by Acts 1977, P.L.102, SEC.2; Acts 1980, P.L.74, SEC.35;
Acts 1981, P.L.106, SEC.1; P.L.23-1988, SEC.48; P.L.18-1990,
SEC.27.