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.
Structure Code of Alabama
Title 37 - Public Utilities and Public Transportation.
Chapter 6 - Electric Cooperatives.
Article 1 - General Provisions.
Section 37-6-2 - Organization and Purpose.
Section 37-6-3 - Enumerated Powers.
Section 37-6-5 - Incorporators.
Section 37-6-6 - Articles of Incorporation - Generally.
Section 37-6-7 - Articles of Incorporation - Amendment.
Section 37-6-9 - Qualifications for Membership; Meetings; Voting.
Section 37-6-10 - Board of Trustees.
Section 37-6-11 - Voting Districts.
Section 37-6-13 - Consolidation Generally.
Section 37-6-14 - Merger Generally.
Section 37-6-15 - Effect of Consolidation or Merger.
Section 37-6-16 - Conversion of Existing Corporation Into Cooperative.
Section 37-6-18 - Dissolution.
Section 37-6-19 - Filing of Articles.
Section 37-6-20 - Disposition of Excess Revenues.
Section 37-6-22 - Nonliability of Members for Debts of Cooperative.
Section 37-6-24 - Waiver of Notice.
Section 37-6-25 - Acknowledgment of Instruments.
Section 37-6-26 - Foreign Corporations.
Section 37-6-28 - Bonds or Other Indebtedness - Consent of Department of Finance.
Section 37-6-27 - Exemption From Jurisdiction of Public Service Commission.
Section 37-6-29 - Bonds or Other Indebtedness - Exemption From Provisions of Securities Law.