Section 7-39-312 - Incorporation - Names - Board of directors - Associated municipalitiesNotwithstanding any other provision of this chapter or the Interlocal Cooperation Act, compiled in title 12, chapter 9, to the contrary, the following provisions shall apply to any energy acquisition corporation:
(1) An energy acquisition corporation is deemed to be a "public agency," as defined in § 12-9-103, for all purposes of the Interlocal Cooperation Act. Specifically, but not limited to, one (1) or more energy acquisition corporations may act jointly with each other or with other public agencies in the exercise of their powers as provided in § 12-9-104. In addition, an energy acquisition corporation may, pursuant to § 12-9-108, contract with other public agencies, whether within or outside this state, to perform any service, activity or undertaking authorized by this chapter, and in such event any such other public agency shall be deemed to be the corporation's "associated municipality" for purposes of § 7-39-304, but not for any other purposes of this chapter, and may also contract with any other person or entity, either within or outside this state, to perform any service, activity or undertaking authorized by this chapter;(2) An energy acquisition corporation may be incorporated under § 7-39-201 to act on behalf of two (2) or more municipalities, each of which shall be deemed to be the "associated municipality" for all purposes of this chapter, and all provisions of this chapter, as nearly as may be practicable, shall be made applicable to such corporation and each associated municipality, subject to the following: (A) The persons filing the application for incorporation under § 7-39-201 must include at least one (1) applicant who meets the qualifications of an incorporator as set forth in § 7-39-103 from each municipality, and such application must be approved by the governing body of each municipality;(B) The name of the corporation need not include the name of each associated municipality, or any of them; and(C) The board of directors may, but shall not be required to, include a member who meets the qualifications of a director as set forth in § 7-39-103 for each associated municipality; provided, that each board member shall meet the qualifications of a director as set forth in § 7-39-103 in one (1) or more of such municipalities; and members of the board may be nominated and elected, and may be removed for cause, in any manner provided in the certificate of incorporation or bylaws of the corporation or by resolution of the board of directors of the corporation; and(3) An energy acquisition corporation may be joined by any one (1) or more municipalities, each of which shall be deemed to be an "associated municipality" for purposes of this chapter, and all provisions of this chapter shall, as nearly as may be practicable, be made applicable to such corporation and each such associated municipality, subject to the requirements of subdivision (2) and subject to the following: (A) Each municipality seeking to become an "associated municipality" of such corporation must make application in writing to the board of directors of such corporation to become an "associated municipality," following approval of such application by resolution of the governing body of such municipality; and(B) The board of directors of such corporation must approve the application of such municipality to become an "associated municipality" of such corporation.Acts 1995, ch. 336, § 1; 1997, ch. 93, §§ 19-24; 1997, ch. 307, § 1; 1999, ch. 345, §§ 20 - 23.