§ 8-1-13-5 — Articles of incorporation; action by commission

Indiana § 8-1-13-5

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

Text

(a) The natural persons executing the articles of
incorporation shall be residents of the territory in which the operations
of the corporation are to be conducted who are desirous of using
electric energy to be furnished by the corporation. The articles of
incorporation shall be executed in as many copies as there are counties,
any part or parts of which are included in the territory in which the
operations of the corporation are to be conducted and shall be
acknowledged by the subscribers before an officer authorized by the
laws of this state to take acknowledgments of deeds. When so
acknowledged the articles of incorporation shall be submitted to the
commission together with a petition executed by one (1) or more of the
natural persons executing the said articles of incorporation praying the
commission to grant a certificate of public convenience and necessity
for the organization and operations of the proposed corporation. Upon
the filing of such articles and petition with the commission, said
commission shall set the said petition for public hearing and shall give
notice of the time and place of such hearing by publication one (1) time
in at least one (1) newspaper printed and published in each of the
counties in which the said corporation proposes to carry on its
operations, which publication shall be had at least ten (10) days prior
to the date set for such hearing, the cost of such publications to be paid
by the petitioners at the time of filing said petition. Any interested
person may appear at such hearing either in person or by attorney and
oppose the prayer of said petition. The commission, after hearing the
evidence introduced at said hearing, shall enter a finding either that the
convenience and necessity of the public proposed to be served in the
territory in which the operations of the corporation are to be conducted
will or will not be served by the organizations and operations of the
proposed corporation. If such finding be in the affirmative, the
commission shall enter an order approving the organization of such
corporation and the proposed articles of incorporation and shall attach
a copy of said order to each copy of the said articles of incorporation.
If the said finding be in the negative, the commission shall enter an
order denying the approval of the said articles of incorporation.
(b) If the commission approves the articles of incorporation under
subsection (a), the same shall be filed together with the attached copy
of the order of the commission in the office of the secretary of state.
The secretary of state shall forthwith endorse the secretary of state's
approval on the articles of incorporation and file one (1) of said copies
in the secretary of state's office and deliver all other copies endorsed
with the secretary of state's approval to the incorporators, who shall
thereupon file one (1) of the said approved copies of said articles in the
office of the county recorder in each county in which a portion of the
territory proposed to be served by the corporation is located. As soon
as this section has been complied with, the proposed corporation
described in the articles so filed, under its designated name, shall be
and constitute a body corporate.
Formerly: Acts 1935, c.175, s.5. As amended by P.L.23-1988,
SEC.47; P.L.136-2018, SEC.67.