ATLANTA — The Georgia Supreme Court has ruled that the president and directors of the Cobb Electric Membership Corporation violated an agreement with the utility’s members.
The court’s 5-1 decision on Monday said that Cobb EMC’s board violated a settlement agreement in December 2008 by amending its bylaws in 2008 to allow proxy voting.
Chief Justice Carol Hunstein said in the opinion that the board’s amendment “fundamentally” alters the utility’s contract.
Justice Harold Melton said in his dissent that nothing in the amendment to the bylaws violates the settlement agreement.
