§ 39-3-1.1. Purchasing cooperatives. Purchasing cooperatives may at any time be organized consisting of any group of electricity consumers for the purpose of negotiating for electric power from nonregulated power producers. Such purchasing cooperatives shall be considered to be associations of electricity consumers organized solely for the purpose of negotiating the purchase of electric power by members of the cooperative. Purchasing cooperatives are specifically not required to be legal entities and are hereby prohibited from engaging in resale of electric power. Electricity consumers will maintain individual accounts with the nonregulated power producer with which a contract is concluded. Electricity consumers may withdraw from a purchasing cooperative at any time by providing thirty (30) days notice to the cooperative and to nonregulated power producers with which a purchasing cooperative has reached an agreement. Nothing in this section shall prevent a cooperative from becoming a legal entity or utilizing a legal entity to negotiate for rates for the purchasing cooperative.
History of Section. (P.L. 1996, ch. 316, § 1; P.L. 1997, ch. 326, § 106.)
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