§ 3043 - Formation of cooperatives by cooperatives - Vermont Statutes

§ 3043. Formation of cooperatives by cooperatives

(a) Notwithstanding any other provision of this chapter, one or more cooperatives formed under the provisions of this chapter may organize and control a cooperative having as its principal purpose the generation, manufacture, purchase, acquisition, accumulation, transmission, sale, supply and disposal of energy, cable television, telecommunications, interactive media, and internet access. Such a cooperative shall have all of the powers of cooperatives formed under the provisions of this chapter.

(b) Members of a cooperative organized pursuant to subsection (a) of this section shall be the cooperative or cooperatives organizing it and may include any individual, partnership, association, corporation, municipality or cooperative engaged in the generation, transmission or distribution of energy within or without the state of Vermont. The bylaws of a cooperative organized pursuant to subsection (a) of this section may provide for more than one class of membership, including a class or classes with no rights or with limited rights to vote on matters requiring the vote of members under this chapter, and including a class or classes with no rights or limited rights to receive distributions of patronage refunds. (Added 1979, No. 51, § 1, eff. April 25, 1979; amended 1999, No. 143 (Adj. Sess.), § 26.)