S.C. Code § 33-49-10
Short title
This chapter may be cited as the "Electric Cooperative Act".
South Carolina Code Title 33, Chapter 49 — Electric Cooperatives
South Carolina · statute · S.C. Code tit. 33, ch. 49 · 70 active provisions
S.C. Code § 33-49-20
Definitions
In this chapter, unless the context otherwise requires: (1) "Person" includes any natural person, firm, association, corporation, business trust, partnership, federal agency, state or political subdivision or agency thereof, or any body politic. (2) "Member" means each incorporator of a cooperative and each person admi…
S.C. Code § 33-49-30
Waiver of notice
Whenever any notice is required to be given under the provisions of this chapter or under the provisions of the articles of incorporation or bylaws of a cooperative, a waiver thereof in writing signed by the persons entitled to such notice, whether before or after the time fixed for the giving of such notice, shall be…
S.C. Code § 33-49-40
Acknowledgments
No person who is authorized to take acknowledgments under the laws of this State shall be disqualified from taking acknowledgments of instruments executed in favor of a cooperative or to which it is a party by reason of being an officer, director or member of such cooperative.
S.C. Code § 33-49-50
Exemption from control of Public Service Commission
Cooperatives and foreign corporations transacting business in this State pursuant to this chapter, except for the provisions of Sections 58-27-40, 58-27-610 through 58-27-670, 58-27-820, 58-27-840, 58-27-1210, 58-27-1270, 58-27-1280, 58-27-210, and 33-49-150 are exempt from the jurisdiction and control of the Public Se…
S.C. Code § 33-49-60
Uniform Securities Act provisions are not applicable
The provisions of Chapter 1 of Title 35 shall not apply to any note, bond or other evidence of indebtedness issued by any cooperative or foreign corporation transacting business in this State pursuant to this chapter, to the United States of America or any agency or instrumentality thereof or to any mortgage or deed of…
S.C. Code § 33-49-70
Recording of mortgages; effect thereof
Any mortgage, deed of trust or other instrument executed by a cooperative or foreign corporation transacting business in this State pursuant to this chapter which by its terms creates a lien upon real and personal property then owned or after-acquired and which is recorded as a mortgage of real property in any county i…
S.C. Code § 33-49-80
Filing of papers by Secretary of State
Articles of incorporation, amendment, consolidation, merger, conversion or dissolution and certificates of election to dissolve and affidavits of compliance, as the case may be, when executed and acknowledged and accompanied by such affidavits as may be required by the applicable provisions of this chapter shall be pre…
S.C. Code § 33-49-90
Transmission and filing certified copies of articles in clerks' offices
The Secretary of State immediately upon the filing in his office of any articles pursuant to this chapter shall transmit a certified copy thereof to the county clerk of the county in which the principal office of each cooperative or corporation affected by such incorporation, amendment, consolidation, merger, conversio…
S.C. Code § 33-49-100
Fees
The Secretary of State shall charge and collect for: (1) Filing articles of incorporation, ten dollars; (2) Filing articles of amendment, three dollars; (3) Filing articles of consolidation or merger, five dollars; (4) Filing articles of conversion, three dollars; (5) Filing certificate of election to dissolve, three d…
S.C. Code § 33-49-110
All papers shall be filed in quadruplicate
All papers filed in the office of the Secretary of State pursuant to the provisions of this chapter shall be filed in quadruplicate.
S.C. Code § 33-49-120
Cooperatives and foreign corporations shall be subject to all taxes except income taxes
Each cooperative and each foreign corporation transacting business in this State pursuant to this chapter, beginning with taxes to be assessed on December 31, 1969, shall be subject to and pay property taxes levied by the State, any county, municipality, school district or any other taxing subdivision, and shall be sub…
S.C. Code § 33-49-130
Construction of chapter
This chapter shall be construed liberally. The enumeration of any object, purpose, power, manner, method or thing shall not be deemed to exclude like or similar objects, purposes, powers, manners, methods or things.
S.C. Code § 33-49-140
Certain rights and agreements not affected
Nothing contained herein shall affect the service areas and agreements between suppliers, as they exist on the effective date of this act as referenced in Section 58-31-430. Further, nothing contained herein shall affect the powers or service rights of electric cooperatives as referenced in Section 58-27-620(6). Nothin…
S.C. Code § 33-49-150
Authority and jurisdiction over electric cooperatives
(A) The Office of Regulatory Staff under the provisions of this section is hereby vested with the authority and jurisdiction to make inspections, audits, and examinations of electric cooperatives pursuant to the provisions of Chapter 4, Title 58 relating to the compliance of electric cooperatives with the provisions of…
S.C. Code § 33-49-160
Association requirements and conduct
(A) An association formed by a group of electric cooperatives that meets the requirements of Section 501(c)(6) of the Internal Revenue Code, is organized under the laws of this State and has as its purpose the representation of the interests of electric cooperatives in this State, must be subject to the requirements co…
S.C. Code § 33-49-210
Purpose of organization under this chapter
Cooperative nonprofit membership corporations may be organized under this chapter for the purpose of supplying electric energy and promoting and extending the use thereof.
S.C. Code § 33-49-220
Organizers
Five or more natural persons or two or more cooperatives may organize a cooperative in the manner hereinafter provided.
S.C. Code § 33-49-230
Articles of incorporation
The articles of incorporation of a cooperative shall recite in the caption that they are executed pursuant to this chapter, shall be signed and acknowledged by each of the incorporators and shall state: (1) The name of the cooperative; (2) The address of its principal office; (3) The names and addresses of the incorpor…
S.C. Code § 33-49-240
Name of cooperative
The name of each cooperative shall include the words "electric" and "cooperative" and the abbreviation "Inc."; provided, however, such limitation shall not apply if, from an affidavit made by the president or vice-president of a cooperative and filed with the Secretary of State, it shall appear that the cooperative des…
S.C. Code § 33-49-250
Powers of cooperative
In addition to the powers conferred on all private corporations by Section 33-3-102, a cooperative has power: (1) to generate, manufacture, purchase, acquire, accumulate, and transmit electric energy and to distribute, sell, supply, and dispose of electric energy to its members, to governmental agencies and political s…
S.C. Code § 33-49-255
Restrictions on interruption of electric service to residential customer for nonpayment of bill; exceptions
(A) Except as provided in subsection (B) of this section, an electric cooperative must not interrupt electric service to any residential customer for nonpayment of a bill until twenty-five days have elapsed from the date of billing. (B) An electric cooperative may interrupt electric service to a residential customer wh…
S.C. Code § 33-49-260
Sale of assets
(a) A sale (which term shall include a sale, lease, exchange or any other disposition of assets, except a mortgage of or other security interest in the assets) of all, or substantially all, the property and assets, with or without the goodwill, of a cooperative may be made upon such terms and conditions and for such co…
S.C. Code § 33-49-270
Mortgage or pledge of assets
A mortgage or pledge of or other security interest in all or any part of the assets of a cooperative, whether or not in the usual and regular course of its business, may be made by authority of the board of trustees of the cooperative without authorization of the members, unless the articles of incorporation or bylaws…
S.C. Code § 33-49-280
Bylaws
The original bylaws of a cooperative shall be adopted by its board of trustees. Thereafter bylaws shall be adopted, amended or repealed by its members. The bylaws shall set forth the rights and duties of members and trustees and may contain other provisions for the regulation and management of the affairs of the cooper…
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