VEA Board Calls for Special Meeting
April 1, 2019 | Uncategorized |
Fiduciary responsibilities and recall effort topics of discussion

PAHRUMP, Nev. (April 1, 2019) – Valley Electric Association announced plans today to conduct a special member meeting to address concerns regarding fiduciary responsibilities and the process for recalling VEA Board members.

The special meeting will be conducted immediately following VEA’s Annual Meeting on April 27 at Pahrump Valley High School.

In announcing the special meeting, VEA Board President Ken Derschan said the Board will address questions that have come up since a group of members announced plans in February to recall the VEA Board of Directors.

“We have heard member concerns, and we are listening to what members say,” said Derschan. “Questions and comments revolving around the Board’s fiduciary responsibilities and how a recall can occur have come up. Members have a right to elect Board members, and they have the right to recall them. That process is spelled out in the bylaws. We want our members to hear first-hand about what being a fiduciary means and how a recall needs to be conducted in accordance with the bylaws and the articles of incorporation.”

Derschan said a representative of VEA’s independent auditor, Bolinger, Segars, Gilbert & Moss, LLP of Lubbock, Texas, will make a presentation on the Co-op’s 2018 audit and discuss the Board’s fiduciary responsibilities.

Corporate Counsel Tammy Peterson of Peterson Baker PLLC will make a presentation on the VEA bylaws and the intricacies of a recall election.

“The bylaws and articles of incorporation are there to protect the Cooperative and the members,” said Dick Peck, Interim Chief Executive of VEA. “If members wish to go down that road, that is their right. Everyone needs to follow the bylaws, however, or little will be accomplished.”

The VEA Annual Meeting will begin at 1 p.m., Saturday, April 27. Registration will begin at 11 a.m., and lunch will be served from 11:30 until the meeting begins. Immediately following the regular Annual Meeting (approximately 2 p.m.), the special meeting will begin.

Following the special meeting will be an auction of used VEA vehicles and articles from VEA’s warehouse.

The VEA bylaws allow for any three Board members to call for a special meeting. All six of VEA’s Board members signed a notice calling for the special meeting.



STAY UPDATED
Get a fresh perspective on energy in rural Nevada.
Sign up for our regular updates today.



Touchstone Energy® Cooperatives is a national network of electric cooperatives across 46 states that provides resources and leverages partnerships to help member cooperatives and their employees better engage and serve their members. By working together, Touchstone Energy cooperatives stand as a source of power and information to their 32 million member-owners every day.


©2019 Valley Electric Association, Inc | All rights Reserved
VALLEY ELECTRIC ASSOCIATION, INC.
800 E. Hwy 372, Pahrump, NV 89048

24/7 PHONE: (775) 727-5312
LOCAL TOLL FREE: (800) 742-3330
MAIN FAX: (775) 727-6320