(1) Except as provided in subsection (2) of this section, a domestic corporation organized under this chapter, and taking the election provided in RCW
24.06.032(1), may convert to a limited cooperative association pursuant to RCW
23.100.1302 through
23.100.1314.
(2) This section does not apply to a domestic corporation organized for the purpose of generating, purchasing, selling, marketing, transmitting, or distributing electric energy.