Texas Utilities Code

§ 161.121 — GENERAL POWERS

UT § 161.121Title 4. DELIVERY OF UTILITY SERVICES · Part A. UTILITY CORPORATIONS AND OTHER PROVIDERS · Ch. 161. ELECTRIC COOPERATIVE CORPORATIONS · Art. C. POWERS OF ELECTRIC COOPERATIVE

Statute text

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An electric cooperative may:

(1)sue and be sued in its corporate name;

(2)adopt and alter a corporate seal and use the seal or a facsimile of the seal as required by law;

(3)acquire, own, hold, maintain, exchange, or use property or an interest in property, including plants, buildings, works, machinery, supplies, equipment, apparatus, and transmission and distribution lines or systems that are necessary, convenient, or useful;

(4)dispose of, mortgage, or lease as lessor any of its property or assets;

(5)borrow money and otherwise contract indebtedness, issue obligations for its indebtedness, and secure the payment of indebtedness by mortgage, pledge, or deed of trust on any or all of its property or revenue;

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Legislative history

Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997. Amended by Acts 1999, 76th Leg., ch. 62, Sec. 18.15(a), eff. Sept. 1, 1999.