§ 340 Oversight Board Incorporation Steps

• •The Oversight Board must make sure the Independent System Operator and the Power Exchange become their own non-profit groups.
• •These groups must be set up as public benefit corporations under the Corporations Code.
• •The goal is to do this as quickly as possible.

Imagine a city wants to create a new group to manage electricity fairly and without making a profit.

The city's leaders must take steps to turn this group into an official non-profit organization, following the rules in the Corporations Code. They need to do this quickly so the group can start working.