393.110.  Application of sections 393.110 to 393.285 — public service commission not to have jurisdiction over certain electrical corporations. — 1.  Sections 393.110 to 393.285 shall apply to the manufacture and furnishing of gas for light, heat or power and the furnishing of natural gas for light, heat or power, and the generation, furnishing and transmission of electricity for light, heat or power, the supplying and distributing of water for any purpose whatsoever, and the furnishing of a sewer system for the collection, carriage, treatment or disposal of sewage for municipal, domestic or other beneficial or necessary purpose.

  2.  Notwithstanding any provision in chapter 386 or this chapter to the contrary, the public service commission shall not have jurisdiction over the rates, financing, accounting, or management of any electrical corporation which is required by its bylaws to operate on the not-for-profit cooperative business plan, with its consumers who receive service as the stockholders of such corporation, and which holds a certificate of public convenience and necessity to serve a majority of its consumer-owners in counties of the third classification as of August 28, 2003.  Nothing in this section shall be construed as amending or superseding the commission's authority granted in and pursuant to subsection 1 of section 386.310, in section 386.800, section 393.106, and section 394.312.