2017 Annual Meeting
We encountered one of the worst storm and flooding events in the history of LREC’s Annual Meetings. About 8 inches of rain fell during Friday night and Saturday causing massive flooding. Due to safety concerns, Emergency Management officials discouraged the public from venturing out unless they had to. Despite all these difficulties, many members of LREC braved the elements and participated in the annual meeting of their cooperative.
For the first time in the history of LREC Annual Meetings, we failed to reach the quorum requirements. The state law and the cooperative bylaws require that five per centum of the members present in person shall constitute a quorum. If less than a quorum is present at any meeting, a majority of those present in person may adjourn the meeting from time to time without further notice. We needed 983 members in attendance at the meeting to achieve the quorum requirement. Unfortunately, the total members in attendance were 928. We were 55 members short of meeting the quorum.
The Annual Meeting was adjourned with no official action taken. Actions listed on the agenda for the 2017 Annual Meeting will be placed on the agenda for the 2018 Annual Meeting of the members. In accordance with the LREC bylaws, the two board members whose terms were to expire this year will remain on the board and will have to run next year for the remaining two years of those three-year terms. The 2018 Annual Meeting will include elections for these two trustee positions with terms ending in April of 2020 and also for the two trustee positions with terms ending in April of 2021.
This annual event brings a large number of people to Hulbert every year. A total of over $5,000 in the form of cash and prizes were given away. The grand prize of $1,000 cash went to Rhonda Wilson of Hulbert, The first prize of $500 was won by the Green Country Coon Hunters of Welling and the second prize of $250 was won by David Harris of Hulbert.
The prize for the oldest gentleman attending the Annual meeting went to Guy Wilson of Hulbert who is 99 years old. The oldest Lady attending went to Mrs. Wanda Howard of Tahlequah who is 85 years young. The youngest boy attending was Jeremy Lisenbee, 24 months old, son of Randi Lisenbee of Hulbert and the youngest girl attending was Pepper Hughes, three years old, daughter of Ed and Jennifer Hughes of Hulbert.
“LREC makes a difference because we are different. We are member-owned and locally operated. We are accountable to our member-consumers and not to the distant stockholders. Our rates cover the cost of doing business and are not marked up to generate profit. And finally, we give money back to our members, when revenues exceed costs”, said Hamid Vahdatipour, LREC Chief Executive Officer.
LREC is a non-profit rural electric cooperative serving electricity to over 24,500 meters in seven counties in northeast Oklahoma, including Cherokee, Wagoner and Muskogee Counties.