[Watchdogs] Are We Owners or Partners, and If Partners, Who (or What) Else Has a Share or Shares?

[Milton Hawkins]

Friends,

 

Here is another thing to consider about the language of the Preamble in the
proposed new Bylaws: the proposed "partnership."  The current draft language
is as follows (with my emphasis):

 

The Pedernales Electric Cooperative, Inc. (the "Cooperative") is a
democratic organization owned and controlled by its Members (as defined
herein), who directly elect the Cooperative's governing body and who
actively participate in setting policies and making decisions. The purpose
of the Cooperative is to provide safe, reliable, affordable energy services
in partnership with its Member-owners.

 

If the Members own the cooperative, how can the cooperative partner with the
members?

 

What are the implications, legal and otherwise, of this proposed new
relationship?

 

Milton

 

Milton Hawkins    milton.hawkins at gmail.com    830-868-9075

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