§ 70-702 — Terms, defined

For purposes of the Electric Cooperative Corporation Act, unless the context otherwise requires: (1) Corporation means a corporation organized pursuant to the act; (2) board means a board of directors of a corporation organized under the act; (3) member means the incorporators of a corporation and each person thereafter lawfully admitted to membership therein; (4) federal agency includes the United States of America and any department administration, commission, board, bureau, office, establishment, agency, authority, or instrumentality of the United States of America heretofore or hereafter ordered; (5) person includes any natural person, firm, association, corporation, business trust, partnership, limited liability company, federal agency, state, or political subdivision thereof, or any body politic; (6) acquire means and includes construct, acquire by purchase, lease, devise, gift, or other mode of acquisition; (7) obligations include bonds, notes, debentures, interim certificates or receipts, and all other evidences of indebtedness issued by a corporation; and (8) rural area means any area not included within the boundaries of any incorporated city, town, or village.

Legislative History

Source: Laws 1937, c. 50, § 2, p. 203; C.S.Supp.,1941, § 70-802; R.S.1943, § 70-702; Laws 1993, LB 121, § 416.