Electric Cooperatives

“Amendment was made to by-laws on december 5, 2023 to article iii, section 5 - for purposes of clarity in regard to an executed instrument, in writing, stating the names of each member's representative, alternate representative, and dates of expiration of their respective terms. The amendment now specifically states the instrument should be executed by either 1) the board chair or 2) both the board vice-chair and secretary of such member under its corporate seal.”

“The corporation has members as provided for in its bylaws.”

“The corporation's governing body consists of two representatives from each member cooperative as provided for in its bylaws.”

“Certain decisions of the governing body are subject to approval by members as provided for in its bylaws.”

“Form 990 is reviewed by the board with all supporting documentation made available to them.”

“The corporation regularly and consistently monitors and enforces compliance with their conflict of interest policy.”

“Compensation for the ceo is reviewed and approved through the use of a compensation survey performed by an independent consultant and a performance review conducted by the compensation committee as indicated in his employment contract that is put into action by the member-elected board.”

“The corporation makes its bylaws, conflict of interest policy, and financial statements available to the public upon request. The form 990 is available on the corporation's website and upon request as reflected in part vi section c line 18.”

“See schedule o ecsc is a not-for-profit corporation organized to: -foster, develop and encourage the program of rural electrification in the state of south carolina -further the general welfare and to promote the interest of the members of ecsc; to further the safety, stability, security and prosperity of electric cooperatives; to aid in solving the problems common to electric cooperatives -disseminate information relating to the rural electrification program; to cooperate with federal, state and municipal agencies in the promotion of rural electrification and national, state, community and rural development; to provide services and informational programs that will stimulate local growth, stability and security and strengthen the electric cooperative program in south carolina -otherwise assist the members of ecsc to provide electric energy to inhabitants of member service areas at the lowest possible cost consistent with sound economy -operate always for the benefit of its member cooperatives and through them for the benefit of their consumers, doing those things through ecsc that can be done better together than individually”