§ 37-17-105 — Return to public service commission rate regulation

(a) The board of directors of a cooperative electric
utility shall hold an election on the question of returning to
retail rate regulation at the next annual meeting after
receiving a petition requesting the same, signed by at least
five percent (5%) of the total member owners, or upon the
board's own motion.
(b) A vote on returning to rate regulation shall take
place only during a cooperative electric utility's annual
meeting or by mail ballots returned prior to and counted at the
annual meeting. Notification of a vote on the resolution shall
be provided to the member owners at least thirty (30) days prior
to the annual meeting.
(c) Upon an affirmative vote of a majority of the member
owners voting on the resolution in person or by mail ballot, the
election results shall be filed with the commission. On the
date of filing, the cooperative shall return to retail rate
regulation by the commission.