Official Code of Georgia Annotated

Title 46. PUBLIC UTILITIES AND PUBLIC TRANSPORTATION · Chapter 3. ELECTRICAL SERVICE · Article 4. ELECTRIC MEMBERSHIP CORPORATIONS AND FOREIGN ELECTRIC COOPERATIVES · Part 6. DIRECTORS AND OFFICERS

46-3-290. Electric membership corporation board of directors management; knowledge of directors’ limitations required; qualifications; expenses.

Active

Current through: Including Acts of the 2025 Session of the General Assembly of Georgia.

(a)
Subject to the provisions of the articles of incorporation or the bylaws, the business and affairs of an electric membership corporation shall be managed by a board of directors.#
(b)
No limitation upon the authority which the directors would have in the absence of such limitation, whether contained in the articles of incorporation, bylaws, or otherwise, shall be effective against persons, other than members and directors, who are without actual knowledge of such limitation.#
(c)
Directors shall be natural persons of the age of 18 years or over. The articles of incorporation or bylaws may prescribe additional qualifications for directors.#
(d)
The compensation, if any, of directors for their services as such shall be on a per diem basis and, unless otherwise provided in the bylaws, shall be fixed by the board of directors. Directors also shall be entitled to reimbursement of expenses actually and necessarily incurred by them in the performance of their duties.#

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Ga. L. 1937, p. 644, § 11; Ga. L. 1950, p. 233, § 1; Ga. L. 1975, p. 783, § 1; Code 1933, § 34C-601, enacted by Ga. L. 1981, p. 1587, § 1.

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Current through: Including Acts of the 2025 Session of the General Assembly of Georgia.

Text read from t46-(v34)-2025-pdf.pdf, Volume V34, 2025 edition, page 286; merge action: bound only; file SHA-256 53ab60ae5027.

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