Arizona Laws 10-2132. Bylaws
The board of directors shall adopt the first bylaws of a generation and transmission cooperative to be adopted following incorporation, conversion, merger or consolidation. Thereafter, bylaws shall be adopted, amended or repealed either by the board of directors or by a majority of the members acting through their voting delegates present in person or by proxy at any regular meeting or special meeting called for that purpose at which a quorum is present. The bylaws shall state the rights and duties of members and directors and may contain other provisions for the regulation and management of the affairs of the generation and transmission cooperatives if the provisions are not inconsistent with this article or with articles of incorporation.
Terms Used In Arizona Laws 10-2132
- Articles of incorporation: means the original or restated articles of incorporation or articles of merger and all amendments to the articles of incorporation or merger and includes amended and restated articles of incorporation and articles of amendment and merger. See Arizona Laws 10-140
- Board of directors: means the group of persons vested with the management of the affairs of the corporation irrespective of the name by which the group is designated and includes the governing body or bodies of a water users' association if the articles of incorporation of the water users' association provide for a governing body or bodies denominated other than as a board of directors. See Arizona Laws 10-140
- Bylaws: means the code of rules adopted for the regulation or management of the affairs of the corporation irrespective of the name by which those rules are designated. See Arizona Laws 10-140
- Delegates: means those persons elected or appointed to vote in a representative assembly for the election of a director or directors or on other matters. See Arizona Laws 10-3140
- Generation and transmission cooperative: means a corporation that is organized under this article or that becomes subject to this article as provided in this article. See Arizona Laws 10-2121
- Person: means a natural person, firm, association, corporation, business trust or partnership or any agency or political subdivision of the United States or of this state or any other political body. See Arizona Laws 10-2121
- Quorum: The number of legislators that must be present to do business.