{"data":{"id":"us-ky/krs-279.110","jurisdiction":"us-ky","citation":"KRS 279.110","heading":"General powers of rural electric cooperative corporations.","body":"Any corporation created under this chapter may:\n(1) Acquire and hold any property necessary or incidental to the proper conduct of its\nbusiness, including preferred stock and common stock or other corporations\nwhether formed under this chapter or not, and the stock of any federal agency, and\nmay pay for any such property in cash, property or on credit, or both, and secure and\nprocure payment of all or any part of the purchase price thereof on such terms and\nconditions as its board of directors determines;\n(2) Acquire, own, operate, maintain and improve one (1) or more systems;\n(3) Pledge all or part of its revenue or mortgage or encumber all or any part of its\nproperty for the purpose of securing the payment of the principal and interest of any\nof its obligations;\n(4) Have and exercise the right of eminent domain in the manner provided in the\nEminent Domain Act of Kentucky;\n(5) Construct, own, lease, operate, and control any facilities across, along, or under any\nstreet or public highway, and over any lands belonging to this state or to any county,\ncity, or political subdivision of this state, but shall restore any such street or\nhighway to its former condition as nearly as possible and shall not use it in such a\nmanner as to impair unnecessarily its usefulness;\n(6) Accept gifts and grants of money or property from this state, any county, city, or\npolitical subdivision of this state, any federal agency, or any other person, and\naccept voluntary and uncompensated services;\n(7) Make any contract necessary or conv enient for the full exercise of the powers\ngranted by this chapter, or for any other corporate purpose, subject to any\nlimitations imposed by this chapter;\n(8) Sell, lease, or dispose of all or any part of its property, subject to the provisions of\nKRS 279.140;\n(9) Contract debts, borrow money without limitation as to the amount of corporate\nindebtedness or liability, and issue or assume obligations;\n(10) Fix and collect reasonable rates and charges for services, subject to the provisions\nof KRS Chapter 278;\n(11) Assist its members in wiring their premises for the use of electric energy and in\npurchasing electrical equipment, appliances, and supplies, and in financing such\nactivities;\n(12) (a) Establish affiliates to engage in nonregulated businesses or acti vities as\nprovided for in KRS 279.020.\n(b) A cooperative formed under this chapter shall annually report to its member -\nowners the nature of the nonregulated business or activity, its financial status\nand future expectations, as well as any other information deemed appropriate\nby its board of direct ors. The cooperative shall file with the Public Service\nCommission a balance sheet and income statement for each nonregulated\nbusiness or activity, if the cooperative has established a separate affiliate to\nengage in nonregulated business or activity.\n(c) If the cooperative's nonregulated activities are conducted within the\ncooperative pursuant to a contract with a federal military installation or a\nlocal, state, or federal government as provided for in KRS 279.020, a balance\nsheet and statement of revenues  and expenses for each nonregulated business\nor activity shall be filed with the Public Service Commission.\n(d) The information to be filed with the Public Service Commission shall be filed\nsimultaneously with the Public Service Commission annual report. T he\ncooperative may request confidentiality for any information it provides as\nrequired in this subsection that it deems proprietary or competitive; and\n(13) Do anything not specifically set forth in this section that is reasonably deemed\nnecessary, proper,  or convenient for the accomplishment of the purposes of the\ncorporation and is not prohibited by law.","path":["KRS Chapter 279"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=14194","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:53:31Z","sha256":"0a39c4d9b163d8e40cce4c86b7780e78a0f0e642c407374382072170923ce685","source_id":"us-ky","stale":false,"prev":"us-ky/krs-279.100","next":"us-ky/krs-279.120"},"notice":"GroundRules: Original legal text. Not legal advice."}