Articles of Conversion: Articles that bind a corporation that has been formed due to its conversion from another corporation.

Flathead Power, a Montana Corporation, was converted to Flathead Electric Cooperative, Inc. in 1937 under Articles of Conversion.

Assignor: One who assigns to another, as in the assigning of capital credits.

Capital Account: An account established for each member of the cooperative to which undistributed capital credits are allocated.

Capital Credits: Margins in excess of operating expenses that have been allocated to the capital accounts of members.

Computation of Time: Unless otherwise stated, a day will be defined as a calendar day.

In Conjunction with: Conjunction–an act of being conjoined
Conjoined–brought together so as to meet

“In conjunction with” as used in these bylaws balloting is brought together with or a part of the annual meeting process.

Easement: An interest in land owned by another that entitles its holder to a specific limited use.

Ex Officio: By virtue or because of an office–The president of the Board is an ex officio member of all committees because of their position as president.

Immediate Family: Parent, child, spouse, brother or sister.

Incapacity: A physical or mental condition which renders the person unable to perform their duties.

Indemnify: To secure against loss or damage.

Natural Person: Natural person does not include corporations or other non-human legal entities which are members. To be eligible to be a trustee, the member must be a person.

Operating margins: All funds and amounts received from members for the provision of a Cooperative service, that exceed the Cooperative’s costs and expenses of providing that service.

Patronage Capital: Capital credits that have been allocated to members on the books of the cooperative and have been retained as capital until such time the financial position of the cooperative warrants retirement of these credits.

Plurality: A greater number of votes cast for one candidate than for another candidate or candidates–does not require a majority.

Principal residence: The home located within the Flathead Electric service area in which a member lives the greater part of the year.

Profile: A concise biographical sketch.

Quorum: The number of members which, when assembled, is legally required to conduct business.

Special Meeting: A meeting of the members, called for a specific purpose, and on a date other than that of the regularly scheduled annual meeting. Special meetings require notification to be sent to each member.

Successors in interest: One who follows and has an interest in.

Successors in occupancy: One who follows in occupancy of the premises.