North Dakota § 10-13-05 Nonprofit basis - Rates and fees

North Dakota Statutes

§ 10-13-05 — Nonprofit basis - Rates and fees

North Dakota § 10-13-05

Title 10Corporations

Ch. 10-13Electric Cooperative Corporations

This text of North Dakota § 10-13-05 (Nonprofit basis - Rates and fees) is published on Counsel Stack Legal Research, covering North Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.D. Cent. Code § 10-13-05 (2026).

Text

Each electric cooperative shall be operated without profit to its members, but the rates, fees, rents, or other charges for electrical energy and for any other facilities, supplies, equipment, or services furnished by the cooperative shall be sufficient at all times:

1.To pay all the operating and maintenance expenses necessary or desirable for the prudent conduct of its business and the principal and interest on the obligations issued or assumed by the cooperative in the performance of the purpose for which it was organized.

2.For the creation of reserves.

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Each electric cooperative shall be operated without profit to its members, but the rates,
fees, rents, or other charges for electrical energy and for any other facilities, supplies,
equipment, or services furnished by the cooperative shall be sufficient at all times:
1. To pay all the operating and maintenance expenses necessary or desirable for the
prudent conduct of its business and the principal and interest on the obligations issued
or assumed by the cooperative in the performance of the purpose for which it was
organized.
2. For the creation of reserves.