resources / Statutes / Nonprofit Corporations / §10-2080

Title 10 – Corporations and Associations

Chapter 19 – Not for Profit Corporations and associations, Cooperatives and Fraternal and Benevolent societies

Article 2 – Electric Cooperative Nonprofit Membership Corporations

  • The provisions of chapter 12 of title 44 shall not apply to any note, bond or other evidence of indebtedness issued by a cooperative doing business in this state pursuant to this article to the United States or any agency or instrumentality thereof, or to any mortgage, deed of trust or other instrument executed to secure such note, bond or other evidence of indebtedness, nor shall such provisions apply to the issuance of membership certificates or other evidence of member interest by a cooperative.