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TO AMEND SECTION 33-49-410 OF THE 1976 CODE, TO PROVIDE THAT EACH PERSON WITH AN OWNERSHIP INTEREST IN A PROPERTY WHO USES ELECTRIC ENERGY FURNISHED BY THE COOPERATIVE IS ELIGIBLE FOR MEMBERSHIP.
Be it enacted by the General Assembly of the State of South Carolina:
SECTION 1. Section 33-49-410 of the 1976 Code is amended to read:
"Section 33-49-410. (A) No person who is not an incorporator shall become a member of a cooperative unless such person shall agree to use electric energy furnished by the cooperative when such electric energy shall be available through its facilities. Each person who has an ownership interest in a property and who agrees to use electric energy furnished by the cooperative at the property when such energy is available through the cooperative's facilities is eligible for membership.
(B) The bylaws of a cooperative may provide that any person, including an incorporator, shall cease to be a member thereof if he shall fail or refuse to use electric energy made available by the cooperative or if electric energy shall not be made available to such person by the cooperative within a specified time after such person shall have become a member thereof. Membership in the cooperative shall not be transferable, except as provided in the bylaws. The bylaws may prescribe additional qualifications and limitations in respect of membership."
SECTION 2. This act takes effect upon approval by the Governor.
This web page was last updated on December 6, 2017 at 3:07 PM