77-5-203 - Definitions.
§ 77-5-203. Definitions.
The following terms whenever used or referred to in this article shall have the following meanings, unless a different meaning clearly appears from the context:
(a) "Corporation" shall mean a corporation formed under this article.
(b) "Bonds" shall mean and include bonds, interim certificates or receipts, notes, debentures and all other evidences of indebtedness, either issued or the payment thereof assumed by the corporation.
(c) "Person" shall mean and include natural persons, firms, associations, corporations, business trusts, partnerships and bodies politic.
(d) "Energy" shall mean and include any and all electric energy no matter how or where generated or produced.
(e) "Acquire" shall mean and include construct, acquire by purchase, lease, devise, gift, or other mode of acquisition.
(f) "System" shall mean and include any plant, works, system, facilities, or properties, or parts thereof, together with all appurtenances thereto, used or useful in connection with the generation, production, transmission or distribution of energy.
(g) "Law" shall mean any act or statute, general, special or local of this state.
(h) "Federal agency" shall mean and include the United States of America, the President of the United States of America, Tennessee Valley Authority, the Federal Emergency Administrator of Public Works, the Administrator of the Rural Electrification Administration, and any and all other authorities, agencies and instrumentalities of the United States of America, heretofore or hereafter created.
(i) "Improve" shall mean and include construct, reconstruct, improve, replace, extend, enlarge, alter, better or repair.
(j) "Board" shall mean the board of directors of a corporation formed under this article.
(k) "Member" shall mean and include each natural person signing the certificate of incorporation of a corporation and each person admitted to membership therein pursuant to law or its by-laws.
(l) "Services" or "service" shall mean the sale or other disposition of energy, electrical appliances, wiring and equipment at the lowest cost consistent with sound economy, public advantage and the prudent conduct of the business of a corporation.
Sources: Codes, 1942, § 5465; Laws, 1936, ch. 184; Laws, 1938, ch. 252.