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      • Section 2.02. Withdrawal of Membership
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      • Section 3.06. Voting Districts
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      • Section 6.03. Removal
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      • Section 6.05. President
      • Section 6.06. Vice-President
      • Section 6.07. Secretary
      • Section 6.08. Treasurer
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      • Section 6.11. Bonds of Officers
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      • Section 7.02. Checks, Drafts, etc.
      • Section 7.03. Deposits, Investments
      • Section 8.01. Interest or Dividends on Capital Prohibited
      • Section 8.02. Patronage Capital in Connection with Furnishing Electric Energy
      • Section 8.03. Unclaimed Funds

Article X — Disposition of Property

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ARTICLE X - DISPOSITION OF PROPERTY

The Cooperative may not sell, lease or otherwise dispose of all or any substantial portion of its property unless such sale, lease, or other disposition is authorized at a meeting of the Members thereof by the affirmative vote of not less than two-thirds (2/3) of all the Members of the Cooperative, and unless the notice of such proposed sale, lease or other disposition shall have been contained in the notice of the meeting; provided, however, that notwithstanding anything herein contained, the Board of Directors of the Cooperative, without authorization by the Members thereof, shall have full power and authority to authorize the execution and delivery of a mortgage or mortgages or a deed or deeds of trust upon, or the pledging or encumbering of, any or all of the property, assets, rights, privileges, licenses, franchises and permits of the Cooperative, whether acquired or to be acquired, and wherever situated, as well as the revenues and income therefrom, all upon such terms and conditions as the Board of Directors shall determine to secure any indebtedness of the Cooperative; provided further that the Board of Directors may, upon the authorization of a majority of those Members of the Cooperative present at a meeting of the Members thereof, sell, lease, or otherwise dispose of all or a substantial portion of its property to another Cooperative or foreign corporation doing business in this state pursuant to the act under which this Cooperative is incorporated.

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357 North Washington Street
P.O. Box 490 l  La Grange, TX 78945

(979) 968-3181  l  (866) 968-3181
Pay by phone (979) 968-4220 l  (866) 968-4220

Fax (979) 968-6752
Office hours: 8:00 A.M. - 5:00 P.M. M-F

Fayette Electric Cooperative is an equal opportunity provider and employer

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©2021 Fayette Electric Cooperative, Inc. All Rights Reserved

  • Home
  • My Account
    • SmartHub
    • Billing Information
    • Payment Options
      • Average Payment Plan
      • Bank Draft
      • Credit Card Draft
      • Deferred Payment Plan
      • SmartHub
  • My FEC
    • Existing Service
      • Credit Terms & Conditons
      • Fees
      • Membership Form
      • Meter Number at Location
      • Privacy Policy
    • New Service
      • Credit Terms & Conditions
      • Easement
      • Fees
      • Membership Form
      • Meter Loop Specifications/Electrical Wiring
      • Privacy Policy
    • Membership Meetings
    • Capital Credits
    • Texas Co-op Power Magazine
    • Co-op Connections Card
    • Gift Certificates
  • My Community
    • Youth Tour
    • Scholarships
    • Rural Friends/ACRE
    • For Kids and Teachers
  • My Environment
    • Together We Save
      • Touchstone Energy
    • HVAC Rebate Program
    • Tree Planting Guidelines
    • Tree Trimming
    • Renewable Energy
  • Outages
    • Report an Outage
      • Life Support
    • Steps in Restoring Power
  • Safety
    • Generator Safety
    • Safety Demonstrations
    • Safe Outdoors
    • Storm Center
      • Keep Food Safe
      • Storm Safety Kit
  • About FEC
    • Contact Us
    • History
    • Board of Directors
      • Director Elections
      • Director Qualifications
      • Duties and Responsibilities
      • Voting for Directors
    • General Manager & Staff
    • About Cooperatives
      • Cooperative Principles
    • Bylaws
      • Article IX — Waiver of Notice
      • Article X — Disposition of Property
      • Article XI — Fiscal Year
      • Article XII — Membership in Other Organizations
      • Article XIII — Seal
      • Article XIV — Amendments
      • Counting Ballots
      • Election of Directors
      • Nomination at District Meetings
      • Section 1.01. Requirements of Membership
      • Section 1.02. Joint Membership
      • Section 1.03. Membership Fee
      • Section 1.04. Certificates of Membership
      • Section 1.05. Member Purchase of Electric Energy or Cooperative Service
      • Section 1.06. Transfer, Conversion and Termination of Membership
      • Section 1.07. Expulsion of Members
      • Section 2.02. Withdrawal of Membership
      • Section 2.03. Removal of Directors and Officers
      • Section 2.04. Membership Lists
      • Section 3.01. Annual Meeting
      • Section 3.02. Special Meetings
      • Section 3.03. Notice of Member Meetings
      • Section 3.04 Quorum
      • Section 3.05. Voting
      • Section 3.06. Voting Districts
      • Section 3.07. Nomination and Election of Directors
      • Section 3.08. Procedure
      • Section 3.09. Order of Business
      • Section 4.01. General Powers
      • Section 4.02. Qualifications and Tenure
      • Section 4.03. “Close Relative” Defined
      • Section 4.04. Vacancies
      • Section 4.05. Compensation
      • Section 4.06. Rules and Regulations
      • Section 4.07. Accounting System and Reports
      • Section 5.01. Regular Meetings
      • Section 5.02. Special Meetings
      • Section 5.03. Notice
      • Section 5.04. Quorum
      • Section 5.05. Manner of Acting
      • Section 6.01. Number and Title
      • Section 6.02. Election and Term of Office
      • Section 6.03. Removal
      • Section 6.04. Vacancies
      • Section 6.05. President
      • Section 6.06. Vice-President
      • Section 6.07. Secretary
      • Section 6.08. Treasurer
      • Section 6.09. Delegation of Secretary’s and Treasurer’s Responsibilities
      • Section 6.10. Manager
      • Section 6.11. Bonds of Officers
      • Section 6.12. Compensation
      • Section 6.13. Indemnification
      • Section 6.14. Reports
      • Section 7.01. Contracts
      • Section 7.02. Checks, Drafts, etc.
      • Section 7.03. Deposits, Investments
      • Section 8.01. Interest or Dividends on Capital Prohibited
      • Section 8.02. Patronage Capital in Connection with Furnishing Electric Energy
      • Section 8.03. Unclaimed Funds