Texas Utilities Code 161.002 – Definitions
Terms Used In Texas Utilities Code 161.002
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Devise: To gift property by will.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Population: means the population shown by the most recent federal decennial census. See Texas Government Code 311.005
In this chapter:
(1) “Acquire” means and includes construct, acquire by purchase, lease, devise, or gift, or other mode of acquisition.
(2) “Board” means the board of directors of an electric cooperative.
(3) “Central station service” means electric service provided by a municipally owned electric system or by an electric corporation described by Subchapter A, Chapter 181.
(4) “Electric cooperative” means a corporation that is organized under this chapter or that becomes subject to this chapter as provided by this chapter.
(5) “Member” means:
(A) an incorporator of an electric cooperative; or
(B) a person admitted to membership in the electric cooperative as provided by § 161.065.
(6) “Obligation” includes a bond, note, debenture, interim certificate or receipt, or other evidence of indebtedness issued by an electric cooperative.
(7) “Rural area” means an area, including both farm and nonfarm population of the area, that is not located in:
(A) a municipality having a population greater than 1,500; or
(B) an unincorporated city, town, village, or borough having a population greater than 1,500.