SB 81 — An Act relating to electric and telephone cooperatives; and relating to telephone service and related telecommunications services.

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and relating to telephone service and related telecommunications services." CS FOR SENATE BILL NO.

81(L&C)81 01 "An Act relating to electric and telephone cooperatives;

Unless prohibited by the articles or bylaws of the cooperative, the 18 members of a cooperative may conduct an annual meeting by teleconferenceteleconference. or 19 another means of communication that ensures all members participating can 20 hear each other during the meeting.

2119 * Sec.

2220 (c) An annual meeting of district delegates of a cooperative shall be 2321 conducted as [HELD AT THE TIME AND PLACE] provided in the bylaws of the 2422 cooperative.

2523 * Sec.

2624 Sec.

Except as otherwise provided in this 2725 chapter, or the articles or bylaws of a cooperative, written notice stating the time 2826 and place of each meeting of the members or district delegates shall be given to each 2927 member or district delegate, in person [EITHER PERSONALLY] or by mail, 3028 electronic mail, or text message, not less than 15 days nor [OR] more than 60 days 3129 before the date of the meeting.

Notice of a special meeting of the members, together 30 with notice of the purpose for which the meeting is called, shall be given to each 0231 member or district delegate [, EITHER] personally or by mail, electronic mail, or 03 text message, not less than 90 days nor [OR] more than 120 days before the date of 0402 the meeting.

If mailed, notice is considered given when the notice [IT] is deposited in 0503 the United States mail with postage prepaid addressed to the member or district 0604 delegate at the address of the member or delegate as the address [IT] appears on the 0705 records of the cooperative.

WhenIf sent by text or electronic mail, notice is 08 considered 06 given when the notice is sent to the member's telephone number, ifprovided thethat 0907 the telephone is capable of receiving text messages, or the electronic mailing address08 10address on record with the cooperative.

1109 * Sec.

1210 (a) Unless the bylaws prescribe the presence of a greater percentage or number 1311 of the members for a quorum, a quorum for the transaction of business at all meetings 1412 of the members of a cooperative or the members of a district of a cooperative having 1513 not more than 1,000 members is five percent of all members [, PRESENT IN 1614 PERSON], and a quorum for the transaction of business of the members of a 1715 cooperative or the members of a district of a cooperative having more than 1,000 1816 members is 50 members [, PRESENT IN PERSON].

If less than a quorum is present, 1917 or is considered present under (c) of this section, at a meeting, a majority of those 2018 present, or considered present under (c) of this section [IN PERSON] may adjourn 2119 the meeting from time to time without further notice.

2220 * Sec.

2321 (c) Unless prohibited by the articles or bylaws, a member or delegate who 2422 votes by electronic communication or mail is considered to have attended the meeting.

2523 * Sec.

2624 (a) A meeting of the board of directors may be attended by members of the 2725 cooperative.

Except when voice votes are authorized, a vote shall be conducted in such 2826 a manner that the members may know the vote of each person entitled to vote.

The 2927 board of directors may conduct a meeting by teleconference,teleconference or another means of 30 communication that ensures all participating directors can hear each other 31 during the meeting, [OR SIMILAR 28 COMMUNICATIONS EQUIPMENT] if the board gives reasonable notice of the 29 meeting and if members of the cooperative are 02 able to attend the meeting sites and 30 hear the meeting.

This section applies only to a 03 meeting at which a quorum of the 31 board participates.

04 * Sec.

0502 (c) The following excepted subjects may be discussed in an executive session:

0603 (1) matters the immediate knowledge of which would clearly have an 0704 adverse effect on the finances of the cooperative;

0805 (2) subjects that tend to prejudice the reputation and character of a 0906 person;

1007 (3) matters discussed with an attorney for the cooperative, the 1108 immediate knowledge of which could have an adverse effect on the legal position of 1209 the cooperative;

1310 (4) personnel matters;

1411 (5) matters thatthe wouldimmediate knowledge of which could have an 12 adverse effect on the ability of the 15 cooperative to compete in the market served 13 by the cooperative.

1614 * Sec.

1715 (a) A corporation organized under the laws of the state and supplying or 1816 having the corporate power to supply electric energy [,] or to furnish telephone or a 1917 related telecommunications service [,] may be converted into a cooperative by 2018 complying with the requirements of this section and thereupon becomes subject to this 2119 chapter as if originally organized under this chapter.

2220 * Sec.

2321 Sec.

Validity of mortgage under Rural Electrification Act [OF 2422 1936].

A mortgage made by a cooperative organized under this chapter to the United 2523 States of America, or an agency or instrumentality of it, to secure indebtedness 2624 incurred under 7 U.S.C.

901 - 950B] (Rural Electrification 2725 Act [OF 1936]), as amended, is not void as against creditors of the mortgagor and 2826 subsequent purchasers and encumbrancers of the property in good faith for value 2927 because the mortgage is not accompanied by an affidavit of the parties to it, or an 3028 affidavit of the agent or attorney-in-fact of a party to it, that the mortgage is made in 3129 good faith to secure the amount named, and without a design to hinder, delay or 30 defraud creditors.

A mortgage made by a cooperative organized under this chapter to 0231 the United States of America, or an agency or instrumentality of it to secure 03 indebtedness incurred under 7 U.S.C.

901 - 950B] (Rural 0402 Electrification Act [OF 1936]), as amended, need not set outforth [FORTH] the date upon 05 which the 03 indebtedness secured by it becomes due.

0604 * Sec.

0705 Sec.