SECTION 1.01. Requirements of Membership
Any person, firm, association, corporation, partnership, entity recognized or doing business under the laws of the state of Texas, federal agency, state or political subdivision will become a Member of Fayette Electric Cooperative, Inc. (hereinafter called the “Cooperative”) upon receipt of electric service from the Cooperative provided that such person or entity has first:
- Completed a written application for Membership;
- Agreed to purchase from the Cooperative electric energy as hereinafter specified;
- Agreed to comply with and be bound by the Articles of Incorporation, these Bylaws of the Cooperative, such rules and regulations as may from time to time be adopted by the Board of Directors, as any of the foregoing may be amended from time to time; and,
- Paid the membership fee specified in these Bylaws.
No Member may hold more than one Membership in the Cooperative, and no Membership in the Cooperative shall be transferable except under provisions listed in Section 1.06.
Notwithstanding anything in this Section 1.01 to the contrary, any electric cooperative corporation organized under Chapter 161, Texas Utilities Code, as amended (the “Act”) which desires to become a Member of the Cooperative shall not be required to receive electric service or comply with clause (b) of this Section 1.01 but may purchase or use any Cooperative Service provided by the Cooperative. The term “Cooperative Service” means, as determined by the Board of Directors, any good, service or facilities provided by the Cooperative. Membership of such electric cooperative corporation shall commence upon approval of such membership by a majority vote of the Board of the Directors.