senate Bill S6244A

Signed By Governor
2017-2018 Legislative Session

Relates to patronage capital contributions, allocations and retirements

download bill text pdf

Sponsored By

Archive: Last Bill Status Via A7953 - Signed by Governor


  • Introduced
  • In Committee
  • On Floor Calendar
    • Passed Senate
    • Passed Assembly
  • Delivered to Governor
  • Signed by Governor

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Actions

view actions (27)
Assembly Actions - Lowercase
Senate Actions - UPPERCASE
Oct 01, 2018 signed chap.300
Sep 19, 2018 delivered to governor
Jun 13, 2018 returned to assembly
passed senate
3rd reading cal.333
substituted for s6244a
Jun 13, 2018 substituted by a7953a
May 30, 2018 amended on third reading 6244a
May 30, 2018 vote reconsidered - restored to third reading
returned to senate
recalled from assembly
Feb 13, 2018 referred to energy
delivered to assembly
passed senate
Feb 06, 2018 advanced to third reading
Feb 05, 2018 2nd report cal.
Jan 30, 2018 1st report cal.333
Jan 03, 2018 referred to energy and telecommunications
returned to senate
died in assembly
Jun 20, 2017 referred to energy
delivered to assembly
passed senate
Jun 06, 2017 advanced to third reading
Jun 05, 2017 2nd report cal.
May 24, 2017 1st report cal.1355
May 11, 2017 referred to energy and telecommunications

Votes

view votes

Jan 30, 2018 - Energy and Telecommunications committee Vote

S6244
11
0
committee
11
Aye
0
Nay
0
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: Jan 30, 2018

May 24, 2017 - Energy and Telecommunications committee Vote

S6244
10
0
committee
10
Aye
0
Nay
1
Aye with Reservations
0
Absent
0
Excused
0
Abstained
show committee vote details

Committee Vote: May 24, 2017

aye wr (1)

Co-Sponsors

S6244 - Details

See Assembly Version of this Bill:
A7953
Law Section:
Rural Electric Cooperative Law
Laws Affected:
Amd §§17 & 60, add §§19-a & 19-b, Rur Elec Coop L

S6244 - Summary

Relates to patronage capital contributions, allocations and retirements.

S6244 - Sponsor Memo

S6244 - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  6244

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                              May 11, 2017
                               ___________

Introduced  by  Sens.  BONACIC, SEWARD, VALESKY, YOUNG -- read twice and
  ordered printed, and when printed to be committed to the Committee  on
  Energy and Telecommunications

AN  ACT  to  amend  the  rural  electric cooperative law, in relation to
  refunds of capital contributions, allocations and retirements

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 60 of the rural electric cooperative law is amended
to read as follows:
  § 60.  [Refunds  to  members. Revenues of a cooperative for any fiscal
year in excess of the amount thereof necessary:
  (a) To defray the expenses of the operation  and  maintenance  of  the
facilities of the cooperative during such fiscal year;
  (b)  To  pay  interest  and  principal  obligations of the cooperative
coming due in such fiscal year;
  (c) To finance, or to provide a reserve  for  the  financing  of,  the
construction  or acquisition by the cooperative of additional facilities
to the extent determined by the board of directors;
  (d) To provide a reasonable reserve for working capital as  determined
by the board of directors;
  (e)  To provide a reserve for the payment of indebtedness of the coop-
erative in an amount not less than the total of the interest and princi-
pal payment in respect thereof required  to  be  made  during  the  next
following fiscal year; and
  (f) To provide a fund for education in cooperation and for the dissem-
ination  of  information concerning the effective use of electric energy
and other services made available  by  the  cooperative,  shall,  unless
otherwise  determined  by  a  vote of the members, be distributed by the
cooperative to its members and to other persons to whom the  cooperative
supplies  electric  energy  or  other  services,  as  patronage  refunds
prorated in accordance with the patronage  of  the  cooperative  by  the

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.

Co-Sponsors

S6244A (ACTIVE) - Details

See Assembly Version of this Bill:
A7953
Law Section:
Rural Electric Cooperative Law
Laws Affected:
Amd §§17 & 60, add §§19-a & 19-b, Rur Elec Coop L

S6244A (ACTIVE) - Summary

Relates to patronage capital contributions, allocations and retirements.

S6244A (ACTIVE) - Sponsor Memo

S6244A (ACTIVE) - Bill Text download pdf


                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                 6244--A
    Cal. No. 333

                       2017-2018 Regular Sessions

                            I N  S E N A T E

                              May 11, 2017
                               ___________

Introduced  by  Sens.  BONACIC,  O'MARA,  SEWARD, VALESKY, YOUNG -- read
  twice and ordered printed, and when printed to  be  committed  to  the
  Committee  on  Energy  and  Telecommunications  --  recommitted to the
  Committee on Energy and Telecommunications in accordance  with  Senate
  Rule  6,  sec. 8 -- reported favorably from said committee, ordered to
  first and second report, ordered to a third reading, passed by  Senate
  and  delivered  to the Assembly, recalled, vote reconsidered, restored
  to third reading, amended and ordered reprinted, retaining  its  place
  in the order of third reading

AN  ACT  to  amend  the  rural  electric cooperative law, in relation to
  refunds of capital contributions, allocations and retirements

  THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section  1.    Section  17  of  the  rural electric cooperative law is
amended by adding a new subdivision (f) to read as follows:
  (F) EVERY COOPERATIVE SHALL KEEP, AT THE OFFICE  OF  THE  COOPERATIVE,
CORRECT  AND  COMPLETE  BOOKS  AND RECORDS OF ACCOUNT AND MINUTES OF THE
PROCEEDINGS OF ITS MEMBERS, BOARD AND EXECUTIVE COMMITTEES, IF ANY,  AND
SHALL  KEEP  AT  SUCH  OFFICE  A LIST OR RECORD CONTAINING THE NAMES AND
ADDRESSES OF ALL MEMBERS, THE CLASS OR CLASSES OF MEMBERSHIP AND  AMOUNT
OF  PATRONAGE CAPITAL ALLOCATED AND UNRETIRED TO EACH MEMBER, AS WELL AS
THE AMOUNT OF ANY PATRONAGE CAPITAL ALLOCATED  TO  NONMEMBERS,  AND  THE
DATES  WHEN THEY RESPECTIVELY WERE ALLOCATED SUCH PATRONAGE CAPITAL. ANY
OF THE FOREGOING BOOKS, MINUTES AND RECORDS MAY BE IN WRITTEN FORM OR IN
ANY OTHER FORM CAPABLE OF BEING CONVERTED INTO  WRITTEN  FORM  WITHIN  A
REASONABLE TIME.
  §  2.  The rural electric cooperative law is amended by adding two new
sections 19-a and 19-b to read as follows:
  § 19-A. CONFLICT OF INTEREST POLICY. (A) EXCEPT AS PROVIDED IN  SUBDI-
VISION  (D)  OF  THIS SECTION, THE BOARD OF EVERY RURAL ELECTRIC COOPER-
ATIVE SHALL ADOPT, AND OVERSEE THE  IMPLEMENTATION  OF,  AND  COMPLIANCE

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets

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