Section 48:24-4 - Articles of incorporation.

NJ Rev Stat § 48:24-4 (2019) (N/A)

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48:24-4 Articles of incorporation.

4. The articles of incorporation of a rural electric cooperative existing under P.L.2017, c.297 (C.48:24-1 et al.) shall state:

a. The name of the cooperative, which shall include the words "Rural Electric Cooperative" and shall not be confusingly similar to the name of any other corporation in this State;

b. The purposes for which the cooperative is formed;

c. The names and addresses of the incorporators who shall serve as directors, and manage the affairs, of the cooperative until its first annual meeting of members or until their successors are elected and qualified;

d. The number of directors, not less than three, to be elected at the annual meetings of members;

e. The address, including street and number, if any, of the cooperative's registered office;

f. The period of duration of the cooperative, which may be perpetual;

g. The terms and conditions upon which persons will be admitted to, and retain, membership in the cooperative, provided that, if expressly so stated, the determination of these matters may be reserved to the directors by the bylaws; and

h. Other provisions, not inconsistent with law, which the incorporators or directors choose to insert for the regulation of the business and affairs of the cooperative.

L.2017, c.297, s.4.

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Section 48:24-3 - Recognition, affirmation of rural electric cooperative.

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Section 48:24-5 - Use of "Rural Electric Cooperative" designation restricted.