HB 723

Abstract

Electric cooperatives; board of directors; accessto meetings; required disclosures. Requires that each Virginiaelectric cooperative hold direct elections for its board of directors,either in person or by mail, or by electronic communication meansif authorized by its articles of incorporation, and prohibits proxyvoting. The bill requires that meetings of the board of directorsbe open to members of the cooperative, viewable both in person andthrough online streaming, and that recordings of the meetings beposted on an official website for viewing by members of the cooperative,with certain exceptions for confidential matters. Thebill also requires the board of directors of an electric cooperativeto make certain disclosures to its members annually. These disclosuresmust include the cooperative's position on legislative and regulatoryissues, the amount of money spent on lobbying by the cooperative,and the names of lobbying organizations that the cooperative supportsand be posted online or distributed through a member publication.