Virginia HB2644: An Act to amend and reenact §§ 56-231.16, 56-231.34:1, and 56-234 of the Code of Virginia, relating to electric cooperative subs

What the bill says

An Act to amend and reenact §§ 56-231.16, 56-231.34:1, and 56-234 of the Code of Virginia, relating to electric cooperative subsidiaries; customers exceeding 90 megawatts demand. [H 2644] Approved March 24, 2025 1. That §§ 56-231.16, 56-231.34:1, and 56-234 of the Code of Virginia are amended and reenacted as purpose. A. Any number of natural persons not less than five may, by executing, filing and recording articles of incorporation as hereinafter set forth, form a cooperative, either with or without capital stock, not organized for pecuniary profit, for the principal purpose of making energy.

From the enrolled text:

An Act to amend and reenact §§ 56-231.16, 56-231.34:1, and 56-234 of the Code of Virginia, relating to electric cooperative subsidiaries; customers exceeding 90 megawatts demand. [H 2644] Approved March 24, 2025 1. That §§ 56-231.16, 56-231.34:1, and 56-234 of the Code of Virginia are amended and reenacted as purpose. A. Any number of natural persons not less than five may, by executing, filing and recording articles of incorporation as hereinafter set forth, form a cooperative, either with or without capital stock, not organized for pecuniary profit, for the principal purpose of making energy, energy services, and other utility services available at the lowest cost consistent with sound economy and prudent management of the business of such cooperative and such other purposes as its membership shall sell, install or service propane or fuel oil equipment; or maintain or buy an inventory of propane or fuel oil equipment for resale, or (f) to serve as a coordinator of nonelectric energy services or provide engineering consulting services except when such energy or engineering services are an incidental part of a marketing effort to provide other energy or engineering services or as a part of providing services that are traditional cooperative activities; (ii) provided further, that notwithstanding clause (i), such cooperative may engage within its certificated service territory in any of the activities …

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