Alabama Statutes
§ 37-6-29 — Bonds or Other Indebtedness - Exemption from Provisions of Securities Law
Alabama·Title 37 Public Utilities and Public Transportation·Ch. 6 Electric Cooperatives·Art. 1 General Provisions
The provisions of the Alabama Securities Law shall not apply to any note, bond or other evidence of indebtedness issued by any cooperative transacting business in this state pursuant to this chapter to the United States of America, or any agency or instrumentality thereof, or to any mortgage or deed of trust executed to secure the same. The provisions of said securities law shall not apply to the issuance of membership certificates by any cooperative.
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Legislative History
(Acts 1939, No. 231, p. 371; Code 1940, T. 18, §59.)
Nearby Sections
15
§ 37-1-1
Commission Established§ 37-1-100
Effective Date of Orders§ 37-1-101
Modification of Orders§ 37-1-102
Record of Proceedings§ 37-1-105
Rehearing§ 37-1-122
Time for Appeal; How Appeal Perfected