IN SB0126 | 2010 | Regular Session
Status
Completed Legislative Action
Spectrum: Slight Partisan Bill (Republican 5-3)
Status: Passed on March 25 2010 - 100% progression
Action: 2010-03-25 - Effective 07/01/2010
Text: Latest bill text (Enrolled) [HTML]
Spectrum: Slight Partisan Bill (Republican 5-3)
Status: Passed on March 25 2010 - 100% progression
Action: 2010-03-25 - Effective 07/01/2010
Text: Latest bill text (Enrolled) [HTML]
Summary
Allows one or more rural electric membership corporations (REMCs) to merge or consolidate with one or more rural telephone cooperative corporations to form a surviving corporation (in the case of a merger) or a successor corporation (in the case of a consolidation). Provides that a surviving corporation or successor corporation: (1) is considered to be both an REMC and a telephone cooperative corporation; and (2) has all the rights, powers, privileges, immunities, and exemptions of an REMC and a telephone cooperative corporation. Sets forth provisions concerning the following with respect to a surviving corporation or successor corporation: (1) Articles of incorporation and bylaws. (2) Selection of the board of directors. (3) General and enumerated powers of the board and the surviving corporation or successor corporation. (4) Members and meetings of members. (5) Obligations and liabilities of the surviving corporation or successor corporation. (6) The acquisition and disposition of property. (7) Articles of dissolution. (8) Charges for services rendered. (9) The jurisdiction of the utility regulatory commission (IURC).
Title
Merger of rural electric and telephone cooperatives.
Sponsors
Sen. Beverly Gard [R] | Sen. Timothy Lanane [D] | Sen. Connie Lawson [R] | Sen. Jean Leising [R] |
Sen. James Merritt [R] | Sen. Lonnie Randolph [D] | Sen. Marlin Stutzman [R] | Sen. Richard Young [D] |
History
Date | Chamber | Action |
---|---|---|
2010-03-25 | Effective 07/01/2010 | |
2010-03-25 | Public Law 18 | |
2010-03-12 | Signed by the Governor | |
2010-03-09 | Signed by the President of the Senate | |
2010-02-25 | Signed by the Speaker | |
2010-02-24 | Signed by the President Pro Tempore | |
2010-02-22 | Returned to the Senate without amendments | |
2010-02-22 | Third reading: passed; Roll Call 193: Yeas 94, Nays 1 | |
2010-02-18 | Second reading: ordered engrossed | |
2010-02-15 | Committee report: do pass, adopted | |
2010-02-02 | First reading: referred to Committee on Commerce, Energy, Technology and Utilities | |
2010-01-26 | Senator Leising added as coauthor | |
2010-01-26 | Cosponsors: Reps. Cherry, Moses and Wolkins | |
2010-01-26 | House sponsor: Rep. Stilwell | |
2010-01-26 | Referred to the House | |
2010-01-26 | Third reading: passed; Roll Call 41: Yeas 50 and Nays 0 | |
2010-01-21 | Senator Randolph added as coauthor | |
2010-01-21 | Second reading: ordered engrossed | |
2010-01-19 | Senators Stutzman and Lawson added as coauthors | |
2010-01-19 | Committee report: amend do pass, adopted | |
2010-01-12 | Senator R. Young added as coauthor | |
2010-01-11 | Senator Lanane added as coauthor | |
2010-01-11 | Senator Merritt added as second author | |
2010-01-05 | First reading: referred to Committee on Utilities & Technology | |
2010-01-05 | Authored by Senator Gard |