Section 5-615 - Members.
§ 5-615. Members.
(a) Eligibility for membership.-
(1) Each incorporator of a cooperative shall be a member of the cooperative.
(2) A person other than an incorporator may become a member of the cooperative if the person agrees to use electricity or other services supplied by the cooperative when the electricity or services are made available through the cooperative's facilities.
(b) Additional qualifications and limitations.- The bylaws may provide additional qualifications for and limitations on membership.
(c) Termination of membership.- The membership of a member of a cooperative who agrees to use electricity shall terminate if:
(1) The member does not use electricity supplied by the cooperative within 6 months after it is made available to the member; or
(2) The cooperative does not make electricity available to the member within 2 years after the person becomes a member or within any shorter period provided by the bylaws of the cooperative.
(d) Joint membership.- A husband and wife may hold a joint membership in a cooperative.
(e) Membership not transferable.- Unless the bylaws provide otherwise, membership in a cooperative is not transferable.
(f) Liability of members for debts of cooperative.-
(1) A member of a cooperative is not liable for the debts of the cooperative.
(2) The property of a member of a cooperative is not subject to execution for the debts of the cooperative.
[2002, ch. 135, § 3.]