CHAPTER 127

An Act to amend and reenact § 56-228, as amended, of the Code of
Virginia, relating to the powers of boards of directors of electric

cooperatives.
[H 281]
Approved March 6, 1968
Be it enacted by the General Assembly of Virginia:

1. That § 56-223, as amended, of the Code of Virginia be amended and
reenacted as follows:
§ 56-228. Powers of board of directors.—The board of directors of a
cooperative shall have power to do all things necessary or incidental in
conducting the business of the cooperative, including, but not limited to
the power:

(a) If authorized by the certificate of incorporation, or by resolution
of its members having voting power, to adopt and amend bylaws for the
management and regulation of the affairs of the cooperative, subject,
however, to the right of the members to alter or repeal such bylaws. The
bylaws of a cooperative may make provisions, not inconsistent with law
or its certificate of incorporation, regulating the admission, suspension or
expulsion of members; the transfer of membership; the fees and dues
of members and the termination of memberships on nonpayment of dues
or otherwise; the number, times and manner of choosing, qualifications,
terms of office, official designations, powers, duties and compensation of
its officers; defining a vacancy in the board or in any office and the
manner of filling it; the number of members, not less than * five per
centum of the total number of members, to constitute a quorum at meet-
ings; the date of the annual meeting and the giving of notice thereof and
the holding of special meetings and the giving of notice thereof; the
terms and conditions upon which the cooperative is to render service
to its members; the disposition of the revenues and receipts of the
cooperative; and regular and special meetings of the board and the giving
of notice thereof.

(b) To appoint agents and employees and to fix their compensation
and the compensation of the officers of the cooperative.

(c) To execute all instruments.
(d) To make its own rules and regulations as to its procedure.