{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/56-231.43.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/56-231.43.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/56-231.43.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/56-231.43.html"}],"law_id":87202,"edition_id":1,"section_id":87202,"structure_id":13183,"section_number":"56-231.43","catch_line":"Powers","history":"1999, c. 874; 2000, cc. 944, 999.","full_text":"A\n\nEach cooperative formed under this article shall have power to do any and all lawful acts or things, including, but not limited to the power:1\n\nTo purchase, sell, generate, store, transport or transmit energy, energy services, products and equipment.2\n\nTo sue and be sued.3\n\nTo have a seal and alter the same at pleasure.4\n\nTo acquire, hold and dispose of property, real and personal, tangible and intangible, or interests therein and to pay in cash or property or on credit, and to secure and procure payment of all or any part of the purchase price thereof on such terms and conditions as the board shall determine.5\n\nTo render service and to acquire, own, operate, maintain and improve a system or systems.6\n\nTo accept gifts or grants of money or of property, real or personal, and to accept voluntary and uncompensated services.7\n\nTo sell, lease, mortgage or otherwise encumber or dispose of all or any parts of its property.8\n\nTo contract debts, borrow money and to issue or assume the payment of bonds and other obligations.9\n\nTo fix, maintain and collect reasonable fees, rents, tolls and other charges for service rendered.10\n\nTo exercise, with respect to its construction of regulated transmission facilities as a power supply cooperative, all the powers set forth in § 56-49, including the power of eminent domain as prescribed for other public service corporations by general law.11\n\nTo assist its members, by loans or otherwise, in the acquisition by them of energy and electrical, technological and other equipment related to the business of the cooperative.12\n\nTo issue nonassessable nonvoting common and preferred capital stock or similar securities and pay dividends thereon.13\n\nTo perform any and all of the foregoing acts through or by means of its own officers, agents and employees, or by contract.B\n\nA cooperative shall have the power and is authorized, from time to time, to issue its obligations for any corporate purpose.1\n\nThe obligations may be authorized by resolution of the board, and may bear any date or dates, mature at any time or times, bear any interest, be payable at any times, be in any denominations, be in any form, either coupon or registered, carry any registration privileges, be executed in any manner, be payable in any medium of payment, at any place or places, and be subject to any terms of redemption, as provided by the resolution.2\n\nThese obligations may be sold in the manner and upon the terms as the board may determine. Pending the preparation or execution of definitive bonds or obligations, interim receipts or certificates of temporary bonds may be delivered to the purchaser of such obligations.C\n\nA cooperative may purchase any of its own obligations.D\n\nThe Virginia Securities Act (§ 13.1-501 et seq.) shall not apply to membership certificates issued by a cooperative or its cooperative affiliates, or subsidiaries organized prior to January 1, 1999.","order_by":null,"text":{"0":{"id":312257,"text":"Each cooperative formed under this article shall have power to do any and all lawful acts or things, including, but not limited to the power:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":312258,"text":"To purchase, sell, generate, store, transport or transmit energy, energy services, products and equipment.","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":312259,"text":"To sue and be sued.","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":312260,"text":"To have a seal and alter the same at pleasure.","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":312261,"text":"To acquire, hold and dispose of property, real and personal, tangible and intangible, or interests therein and to pay in cash or property or on credit, and to secure and procure payment of all or any part of the purchase price thereof on such terms and conditions as the board shall determine.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"A5"},"5":{"id":312262,"text":"To render service and to acquire, own, operate, maintain and improve a system or systems.","type":"section","prefixes":["A","5"],"prefix":"5","entire_prefix":"A5","prefix_anchor":"A5","level":2,"prior_prefix":"A4","next_prefix":"A6"},"6":{"id":312263,"text":"To accept gifts or grants of money or of property, real or personal, and to accept voluntary and uncompensated services.","type":"section","prefixes":["A","6"],"prefix":"6","entire_prefix":"A6","prefix_anchor":"A6","level":2,"prior_prefix":"A5","next_prefix":"A7"},"7":{"id":312264,"text":"To sell, lease, mortgage or otherwise encumber or dispose of all or any parts of its property.","type":"section","prefixes":["A","7"],"prefix":"7","entire_prefix":"A7","prefix_anchor":"A7","level":2,"prior_prefix":"A6","next_prefix":"A8"},"8":{"id":312265,"text":"To contract debts, borrow money and to issue or assume the payment of bonds and other obligations.","type":"section","prefixes":["A","8"],"prefix":"8","entire_prefix":"A8","prefix_anchor":"A8","level":2,"prior_prefix":"A7","next_prefix":"A9"},"9":{"id":312266,"text":"To fix, maintain and collect reasonable fees, rents, tolls and other charges for service rendered.","type":"section","prefixes":["A","9"],"prefix":"9","entire_prefix":"A9","prefix_anchor":"A9","level":2,"prior_prefix":"A8","next_prefix":"A10"},"10":{"id":312267,"text":"To exercise, with respect to its construction of regulated transmission facilities as a power supply cooperative, all the powers set forth in § 56-49, including the power of eminent domain as prescribed for other public service corporations by general law.","type":"section","prefixes":["A","10"],"prefix":"10","entire_prefix":"A10","prefix_anchor":"A10","level":2,"prior_prefix":"A9","next_prefix":"A11"},"11":{"id":312268,"text":"To assist its members, by loans or otherwise, in the acquisition by them of energy and electrical, technological and other equipment related to the business of the cooperative.","type":"section","prefixes":["A","11"],"prefix":"11","entire_prefix":"A11","prefix_anchor":"A11","level":2,"prior_prefix":"A10","next_prefix":"A12"},"12":{"id":312269,"text":"To issue nonassessable nonvoting common and preferred capital stock or similar securities and pay dividends thereon.","type":"section","prefixes":["A","12"],"prefix":"12","entire_prefix":"A12","prefix_anchor":"A12","level":2,"prior_prefix":"A11","next_prefix":"A13"},"13":{"id":312270,"text":"To perform any and all of the foregoing acts through or by means of its own officers, agents and employees, or by contract.","type":"section","prefixes":["A","13"],"prefix":"13","entire_prefix":"A13","prefix_anchor":"A13","level":2,"prior_prefix":"A12","next_prefix":"B"},"14":{"id":312271,"text":"A cooperative shall have the power and is authorized, from time to time, to issue its obligations for any corporate purpose.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A13","next_prefix":"B1"},"15":{"id":312272,"text":"The obligations may be authorized by resolution of the board, and may bear any date or dates, mature at any time or times, bear any interest, be payable at any times, be in any denominations, be in any form, either coupon or registered, carry any registration privileges, be executed in any manner, be payable in any medium of payment, at any place or places, and be subject to any terms of redemption, as provided by the resolution.","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"16":{"id":312273,"text":"These obligations may be sold in the manner and upon the terms as the board may determine. Pending the preparation or execution of definitive bonds or obligations, interim receipts or certificates of temporary bonds may be delivered to the purchaser of such obligations.","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"C"},"17":{"id":312274,"text":"A cooperative may purchase any of its own obligations.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B2","next_prefix":"D"},"18":{"id":312275,"text":"The Virginia Securities Act (§ 13.1-501 et seq.) shall not apply to membership certificates issued by a cooperative or its cooperative affiliates, or subsidiaries organized prior to January 1, 1999.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":13183,"edition_id":1,"name":"Utility Aggregation Cooperatives Act","identifier":"2","label":"article","depth":3,"order_by":1,"parent_id":13182,"metadata":{},"date_created":"2026-06-26 03:44:24","date_modified":"2026-06-26 03:44:24","permalink":{"id":251431,"object_type":"structure","relational_id":13183,"identifier":"2","token":"56\/9.1\/2","url":"\/56\/9.1\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13182,"edition_id":1,"name":"Utility Consumer Services Cooperatives and Utility Aggregation Cooperatives","identifier":"9.1","label":"chapter","depth":2,"order_by":1,"parent_id":12881,"metadata":{},"date_created":"2026-06-26 03:44:24","date_modified":"2026-06-26 03:44:24","permalink":{"id":251323,"object_type":"structure","relational_id":13182,"identifier":"9.1","token":"56\/9.1","url":"\/56\/9.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12881,"edition_id":1,"name":"Public Service Companies","identifier":"56","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:58","date_modified":"2026-06-26 03:43:58","permalink":{"id":248473,"object_type":"structure","relational_id":12881,"identifier":"56","token":"56","url":"\/56\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":66888,"structure_id":13183,"section_number":"56-231.38","catch_line":"Definitions","url":"\/56-231.38\/","token":"56\/9.1\/2\/56-231.38","metadata":false},{"id":87060,"structure_id":13183,"section_number":"56-231.39","catch_line":"Organization and purpose","url":"\/56-231.39\/","token":"56\/9.1\/2\/56-231.39","metadata":false},{"id":81119,"structure_id":13183,"section_number":"56-231.40","catch_line":"Names","url":"\/56-231.40\/","token":"56\/9.1\/2\/56-231.40","metadata":false},{"id":72635,"structure_id":13183,"section_number":"56-231.41","catch_line":"Articles of incorporation","url":"\/56-231.41\/","token":"56\/9.1\/2\/56-231.41","metadata":false},{"id":84810,"structure_id":13183,"section_number":"56-231.42","catch_line":"Bylaws","url":"\/56-231.42\/","token":"56\/9.1\/2\/56-231.42","metadata":false},{"id":87202,"structure_id":13183,"section_number":"56-231.43","catch_line":"Powers","url":"\/56-231.43\/","token":"56\/9.1\/2\/56-231.43","metadata":false},{"id":84311,"structure_id":13183,"section_number":"56-231.44","catch_line":"Board of directors","url":"\/56-231.44\/","token":"56\/9.1\/2\/56-231.44","metadata":false},{"id":64249,"structure_id":13183,"section_number":"56-231.45","catch_line":"Officers","url":"\/56-231.45\/","token":"56\/9.1\/2\/56-231.45","metadata":false},{"id":60554,"structure_id":13183,"section_number":"56-231.46","catch_line":"Members","url":"\/56-231.46\/","token":"56\/9.1\/2\/56-231.46","metadata":false},{"id":66528,"structure_id":13183,"section_number":"56-231.47","catch_line":"Adoption of article","url":"\/56-231.47\/","token":"56\/9.1\/2\/56-231.47","metadata":false},{"id":81005,"structure_id":13183,"section_number":"56-231.48","catch_line":"Applicability of other laws","url":"\/56-231.48\/","token":"56\/9.1\/2\/56-231.48","metadata":false},{"id":55354,"structure_id":13183,"section_number":"56-231.49","catch_line":"Restructuring costs","url":"\/56-231.49\/","token":"56\/9.1\/2\/56-231.49","metadata":false},{"id":77460,"structure_id":13183,"section_number":"56-231.50","catch_line":"Regulation by State Corporation Commission","url":"\/56-231.50\/","token":"56\/9.1\/2\/56-231.50","metadata":false},{"id":62015,"structure_id":13183,"section_number":"56-231.50:1","catch_line":"Separation of regulated and unregulated businesses","url":"\/56-231.50_1\/","token":"56\/9.1\/2\/56-231.50_1","metadata":false},{"id":54197,"structure_id":13183,"section_number":"56-231.50:2","catch_line":"Right of action; violation of rules or regulations","url":"\/56-231.50_2\/","token":"56\/9.1\/2\/56-231.50_2","metadata":false},{"id":60306,"structure_id":13183,"section_number":"56-231.51","catch_line":"Construction of article and conflicting laws","url":"\/56-231.51\/","token":"56\/9.1\/2\/56-231.51","metadata":false},{"id":80704,"structure_id":13183,"section_number":"56-231.52","catch_line":"Citation to article","url":"\/56-231.52\/","token":"56\/9.1\/2\/56-231.52","metadata":false}],"previous_section":{"id":84810,"structure_id":13183,"section_number":"56-231.42","catch_line":"Bylaws","url":"\/56-231.42\/","token":"56\/9.1\/2\/56-231.42","metadata":false},"next_section":{"id":84311,"structure_id":13183,"section_number":"56-231.44","catch_line":"Board of directors","url":"\/56-231.44\/","token":"56\/9.1\/2\/56-231.44","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/56-231.43\/","history_text":"

This law was first created in 1999. The record of its establishment is cataloged in chapter 874<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2000, chapters 944<\/a> and 999<\/a>.<\/p>","references":false,"refers_to":[{"id":75080,"section_number":"13.1-501","catch_line":"Definitions","order_by":null,"url":"\/13.1-501\/"},{"id":54611,"section_number":"56-49","catch_line":"Powers","order_by":null,"url":"\/56-49\/"}],"permalink":{"id":251453,"object_type":"law","relational_id":87202,"identifier":"56-231.43","token":"56\/9.1\/2\/56-231.43","url":"\/56-231.43\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/56-231.43\/","token":"56\/9.1\/2\/56-231.43","dublin_core":{"Title":"Powers","Type":"Text","Format":"text\/html","Identifier":"\u00a7 56-231.43","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Each cooperative<\/span> formed under this article shall have power to do any and all lawful acts or things, including, but not limited to the power: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> To purchase, sell, generate, store, transport or transmit energy<\/span>, energy<\/span> services, products and equipment. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> To sue and be sued. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> To have a seal and alter the same at pleasure. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> To acquire, hold and dispose of property, real and personal, tangible and intangible, or interests therein and to pay in cash or property or on credit, and to secure and procure payment of all or any part of the purchase price thereof on such terms and conditions as the board<\/span> shall determine. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> To render service and to acquire, own, operate, maintain and improve a system<\/span> or systems<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> To accept gifts or grants of money or of property, real or personal, and to accept voluntary and uncompensated services. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> To sell, lease, mortgage or otherwise encumber or dispose of all or any parts of its property. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

8.<\/span> To contract<\/span> debts, borrow money and to issue<\/span> or assume the payment of bonds<\/span> and other obligations<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

9.<\/span> To fix, maintain and collect reasonable fees, rents, tolls and other charges for service rendered. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

10.<\/span> To exercise, with respect to its construction of regulated transmission facilities as a power supply cooperative<\/span>, all the powers set forth in § 56-49<\/a>, including the power of eminent domain as prescribed for other public service corporations<\/span> by general law<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

11.<\/span> To assist its members<\/span>, by loans or otherwise, in the acquisition by them of energy<\/span> and electrical, technological and other equipment related to the business of the cooperative<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

12.<\/span> To issue<\/span> nonassessable nonvoting common and preferred capital stock or similar securities and pay dividends thereon. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

13.<\/span> To perform any and all of the foregoing acts through or by means of its own officers, agents and employees, or by contract<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> A cooperative<\/span> shall have the power and is authorized, from time to time, to issue<\/span> its obligations<\/span> for any corporate purpose. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The obligations<\/span> may be authorized by resolution of the board<\/span>, and may bear any date or dates, mature at any time or times, bear any interest, be payable at any times, be in any denominations, be in any form, either coupon or registered, carry any registration privileges<\/span>, be executed in any manner, be payable in any medium of payment, at any place or places, and be subject to any terms of redemption<\/span>, as provided by the resolution. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> These obligations<\/span> may be sold in the manner and upon the terms as the board<\/span> may determine. Pending the preparation or execution of definitive bonds<\/span> or obligations<\/span>, interim receipts or certificates of temporary bonds<\/span> may be delivered to the purchaser of such obligations<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> A cooperative<\/span> may purchase any of its own obligations<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> The Virginia Securities Act (§ 13.1-501<\/a> et seq.) shall not apply to membership certificates issued by a cooperative<\/span> or its cooperative<\/span> affiliates<\/span>, or subsidiaries organized prior to January 1, 1999. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nPOWERS (\u00a7 56-231.43)\n\nA. Each cooperative formed under this article shall have power to do any and all\nlawful acts or things, including, but not limited to the power:\n\n 1. To purchase, sell, generate, store, transport or transmit energy, energy\n services, products and equipment.\n\n 2. To sue and be sued.\n\n 3. To have a seal and alter the same at pleasure.\n\n 4. To acquire, hold and dispose of property, real and personal, tangible and\n intangible, or interests therein and to pay in cash or property or on credit,\n and to secure and procure payment of all or any part of the purchase price\n thereof on such terms and conditions as the board shall determine.\n\n 5. To render service and to acquire, own, operate, maintain and improve a\n system or systems.\n\n 6. To accept gifts or grants of money or of property, real or personal, and to\n accept voluntary and uncompensated services.\n\n 7. To sell, lease, mortgage or otherwise encumber or dispose of all or any\n parts of its property.\n\n 8. To contract debts, borrow money and to issue or assume the payment of bonds\n and other obligations.\n\n 9. To fix, maintain and collect reasonable fees, rents, tolls and other\n charges for service rendered.\n\n 10. To exercise, with respect to its construction of regulated transmission\n facilities as a power supply cooperative, all the powers set forth in §\n 56-49, including the power of eminent domain as prescribed for other public\n service corporations by general law.\n\n 11. To assist its members, by loans or otherwise, in the acquisition by them\n of energy and electrical, technological and other equipment related to the\n business of the cooperative.\n\n 12. To issue nonassessable nonvoting common and preferred capital stock or\n similar securities and pay dividends thereon.\n\n 13. To perform any and all of the foregoing acts through or by means of its\n own officers, agents and employees, or by contract.\n\nB. A cooperative shall have the power and is authorized, from time to time, to\nissue its obligations for any corporate purpose.\n\n 1. The obligations may be authorized by resolution of the board, and may bear\n any date or dates, mature at any time or times, bear any interest, be payable\n at any times, be in any denominations, be in any form, either coupon or\n registered, carry any registration privileges, be executed in any manner, be\n payable in any medium of payment, at any place or places, and be subject to\n any terms of redemption, as provided by the resolution.\n\n 2. These obligations may be sold in the manner and upon the terms as the board\n may determine. Pending the preparation or execution of definitive bonds or\n obligations, interim receipts or certificates of temporary bonds may be\n delivered to the purchaser of such obligations.\n\nC. A cooperative may purchase any of its own obligations.\n\nD. The Virginia Securities Act (§ 13.1-501 et seq.) shall not apply to\nmembership certificates issued by a cooperative or its cooperative affiliates,\nor subsidiaries organized prior to January 1, 1999.\n\nHISTORY: 1999, c. 874; 2000, cc. 944, 999.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}