Sec. 3. The following terms whenever used or referred to in this chapter have the following meanings, unless a different meaning clearly appears from the context:

     (a) “Corporation” means a corporation formed under this chapter.

     (b) “Municipality” means any county, city, or town of this state.

     (c) “Person” or “inhabitant” means natural persons, firms, associations, corporations, limited liability companies, business trusts, partnerships, and bodies politic.

     (d) “Energy” means all electric energy no matter how generated or produced.

     (e) “System” means any plant, works, system, facilities, or properties, together with all parts thereof and appurtenances thereto, used or useful in the furnishing of services.

     (f) “Obligations” means negotiable bonds, interim certificates or receipts, notes, debentures, and all other evidences of indebtedness, either issued or the payment thereof assumed by the corporation.

     (g) “Law” means any law of this state.

     (h) “Federal agency” means the United States of America, the President of the United States of America, the federal emergency administrator of public works and any other authority, agency, or instrumentality of the United States of America, heretofore or hereafter created.

     (i) “Acquire” means construction, obtaining by purchase, lease, devise, or gift, the exercise of the right of eminent domain in the manner provided by law for the exercise thereof, or other mode of acquisition.

     (j) “Improve” means to construct, reconstruct, improve, extend, enlarge, alter, better, or repair.

     (k) “Board” means board of directors of a corporation formed under this chapter.

     (l) “Member” means each person signing the articles of incorporation of a corporation and each person admitted to membership therein pursuant to law and the corporation’s bylaws.

     (m) “Service” or “services” means the furnishing of energy or other utility services incidental to development, operation, or maintenance of utility infrastructure and the rendering of related engineering, financial, accounting, economic development, or community development services, or educational services and related materials or equipment assisting in the establishment and maintenance of better communication between corporations and their members, or any of the same.

     (n) “Territory”, when modified by the phrase “already being served with energy by any public or municipally owned utility”, shall not be construed to include territory served by an electric distribution line or lines:

(1) acquired prior to March 1, 1980, from a public or municipally owned utility by a corporation formed or admitted to do business in this state under this chapter; or

(2) acquired on or after March 1, 1980, from a public or municipally owned utility by such a corporation;

if the Indiana utility regulatory commission, after public hearing, finds that public convenience and necessity would be best served by, and authorizes, such acquisition, and if the electric distribution line or lines, together with all other facilities proposed to be purchased, have a reproduction cost new, less depreciation, of not more than three hundred thousand dollars ($300,000) and are not located in whole or in part in any city or town having a population in excess of one thousand five hundred (1,500); however, the dollar and population limitations do not apply if the acquisition is agreed to in all respects by all affected electricity suppliers and is approved by the commission.

     (o) “Commission” refers to the Indiana utility regulatory commission.

Formerly: Acts 1935, c.175, s.3; Acts 1937, c.258, s.2; Acts 1945, c.155, s.1; Acts 1951, c.162, s.1; Acts 1953, c.23, s.1; Acts 1969, c.116, s.1. As amended by Acts 1980, P.L.69, SEC.3; P.L.121-1987, SEC.1; P.L.8-1993, SEC.123; P.L.95-1993, SEC.1; P.L.1-1994, SEC.33; P.L.109-1995, SEC.1; P.L.81-1998, SEC.1; P.L.198-1999, SEC.1; P.L.171-2017, SEC.1.