As used in this chapter:
(1)"Area" or "TVA area" means the area of the Tennessee Valley authority as described in § 15(d)(a) of the Tennessee Valley Authority Act of 1933 ( 16 U.S.C. § 831n-4 ); (2)"Board" means a G&T cooperative's board of directors or the necessary number of the board of directors to take action;
(3)"Distribution cooperative" means an electric cooperative that has been heretofore incorporated under the former Electric Cooperative Law, formerly compiled in title 65, chapter 25, part 1, or that has been or hereafter is incorporated under the Rural Electric and Community Services Cooperative Act, compiled in title 65, chapter 25, or that has been or is created as an electric cooperative, electric power association or other similar nonprofit organization or association un
Free access — add to your briefcase to read the full text and ask questions with AI
As used in this chapter: (1) "Area" or "TVA area" means the area of the Tennessee Valley authority as described in § 15(d)(a) of the Tennessee Valley Authority Act of 1933 ( 16 U.S.C. § 831n-4 ); (2) "Board" means a G&T cooperative's board of directors or the necessary number of the board of directors to take action; (3) "Distribution cooperative" means an electric cooperative that has been heretofore incorporated under the former Electric Cooperative Law, formerly compiled in title 65, chapter 25, part 1, or that has been or hereafter is incorporated under the Rural Electric and Community Services Cooperative Act, compiled in title 65, chapter 25, or that has been or is created as an electric cooperative, electric power association or other similar nonprofit organization or association under the laws of another state, and that is also engaged, in whole or in part, in the distribution of electrical power at retail to its members as the ultimate end-users of such electrical power and energy; (4) "Energy acquisition corporation" means an entity created and operating pursuant to the authority established in the Energy Acquisitions Corporation Act, compiled in title 7, chapter 39; (5) "Existing G&T cooperative" means a nonprofit corporation created, under chapters 51-68 of this title, title 65, chapter 25, or by a charter of incorporation relying upon both or parts of either of these statutes that, as of June 23, 2009, does not have retail residential, commercial or industrial customers and that, as of June 23, 2009, has secured a determination of exemption from taxation as a § 501(c)(12) organization under the federal Internal Revenue Code ( 26 U.S.C. § 501(c)(12) ); (6) "Governmental electric system" means a state, municipal, county or other political subdivision or local governmental entity of this state or of any other state that is engaged, in whole or in part, in the distribution of electrical power at retail to its customers as the ultimate end-users of the electrical power and energy, and "governmental electric system" may, at the election of the G&T cooperative for purposes of membership in the G&T cooperative, include the Tennessee Valley authority, all as provided in the bylaws of the G&T cooperative; (7) "G&T cooperative" or "G&T cooperatives" means one (1) or more nonprofit cooperative membership corporations organized under or otherwise subject to this chapter; (8) "Lease-sale" means an agreement whereby the possession and use of assets and properties would be transferred to a lessee-purchaser for a stated or determinable period in time, during or at the end of which the lessee-purchaser would have the right and be obligated, or would have the option, to purchase and acquire, or would without further act acquire fee simple title to the assets and properties for a price expressly stated in the agreement or for a price determinable by a formula contained in the agreement, whether or not any portion of any lease-hold or rental payments would be creditable as a part of the price; (9) "Member" means a distribution cooperative or governmental electric system, as applicable, having the right through its duly appointed agent or representative to vote for the directors of a G&T cooperative and upon other matters as provided in this chapter and as provided in a G&T cooperative's charter or bylaws, and includes each incorporator of a G&T cooperative. Each such cooperative or system shall exercise its respective voting rights through its duly appointed or designated agent or representative. The rights shall be exercised as prescribed in the charter, bylaws or other organizational or governance instruments of a G&T cooperative; (10) "Patron" means a person agreeing to receive or already receiving, or who in the past has received, one (1) or more of the services rendered by a G&T cooperative, whether the person is a member or not. "Nonmember patron" means a person who or that is not or was not a member; and (11) "Person" includes any natural person, firm, association, corporation, cooperative, membership corporation, distribution cooperative, electric power association, business trust, partnership and federal, state or local governments, or departments, agencies or any other political subdivision thereof, including, without limitation, an energy acquisition corporation.