Laws of North Carolina (Last Updated: May 12, 2015) |
Chapter159B. Joint Municipal Electric Power and Energy Act |
Article3. Joint Municipal Assistance Agencies |
§159B-49. Associate members
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Notwithstanding the provisions of Article 1 of Chapter 159B of the General Statutes or any other provision of law, a joint municipal assistance agency may, in its bylaws, create associate memberships. An associate member of a joint municipal assistance agency shall have only those rights, privileges, immunities, powers, authority, and responsibilities as set forth in the bylaws of the joint municipal assistance agency; provided, that:
(1) An associate member shall not have the right to appoint a commissioner or alternate commissioner, have the right to vote or otherwise participate in decisions of the joint municipal assistance agency;
(2) An associate member shall not have the right to a distribution of assets upon dissolution of the joint municipal assistance agency; and
(3) Income from the joint municipal assistance agency shall not accrue to, or otherwise inure to the benefit of, an associate member.