National Energy Development Act of 1979

[AI summary unavailable — showing source text] National Energy Development Act of 1979 - Title I: Introductory - States Congressional findings with respect to economic hardships created by energy shortages and the need for regional cooperation in energy conservation and production efforts. States as the purposes of this Act: (1) the creation of regional energy corporations to promote conservation and production of energy; and (2) the promotion of long-term cooperation among the States in dealing with energy shortages. Defines various terms used in this Act. Title II: Organization, Management, Powers - Authorizes the creation of independent, for-profit, regional energy corporations. Directs the President, upon the request of the Governors of three or more eligible participating States, to appoint incorporators to serve as the initial board of directors of the regional corporations and to take whatever actions are necessary to establish such corporations. Stipulates that a State shall become a member of a regional corporation when such State subscribes for State stock, makes an initial contribution to capital, and enacts supporting legislation. Sets forth provisions relating to the membership structure and terms of office of the …