New Jersey Statutes
§ 48:24-19 — Security of borrowed money.
New Jersey·Title 48 PUBLIC UTILITIES
19.Whenever any rural electric cooperative subject to P.L.2017, c.297 (C.48:24-1 et al.) has borrowed money from any federal agency, the obligations issued to secure the payment of the money shall be exempt from the provisions of the "Uniform Securities Law (1967)," P.L.1967, c.93 (C.49:3-47 et seq.) nor shall the provisions of P.L.1967, c.93 (C.49:3-47 et seq.) apply to the issuance of membership certificates by that cooperative. L.2017, c.297, s.19.
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Nearby Sections
15
§ 48:24-1
Short title.§ 48:24-10
Liability for, payment of debts.§ 48:24-11
Certificate of membership.§ 48:24-12
Board of directors.§ 48:24-13
Meetings.§ 48:24-14
Quorum.§ 48:24-15
Voting.§ 48:24-16
Operating expenses; revenues.§ 48:24-17
Merger, consolidation, division.§ 48:24-18
Dissolution.§ 48:24-19
Security of borrowed money.§ 48:24-4
Articles of incorporation.§ 48:24-6
Liberal construction.