Michigan Laws 460.33 – Cooperative electric utilities; purpose of act
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Terms Used In Michigan Laws 460.33
- board: means the group of members democratically elected by the members of a cooperative electric utility to manage the business and affairs of the cooperative electric utility. See Michigan Laws 460.32
- Member-regulation: means the board of directors of the cooperative is charged with establishing, maintaining, and applying all rates, charges, accounting standards, billing practices, and terms and conditions of service. See Michigan Laws 460.32
Cooperative electric utilities, which are owned by the members they serve, are regulated by their members acting through democratically elected boards of directors. It is declared that member-regulation by a cooperative in the areas of rates, charges, accounting standards, billing practices, and terms and conditions of service may be more efficient and cost-effective. The purpose of this act is to allow the board of directors to elect member-regulation for rates, charges, accounting standards, billing practices, and terms and conditions of service.