A cooperative shall have power out of any funds available therefor to purchase any obligations issued by it at a price not exceeding the principal amount thereof and accrued interest thereon. All bonds so purchased shall be cancelled.
1950, p. 593; 1956, c. 434.
Structure Code of Virginia
Title 56 - Public Service Companies
Chapter 16 - Telephone Cooperatives Act
§ 56-486. Who may form cooperative; purpose
§ 56-488. Certificate of incorporation
§ 56-489. Limitation of use of words "telephone cooperative."
§ 56-490. Filing certificate of incorporation
§ 56-491. Board of directors; officers
§ 56-492. Powers of board of directors
§ 56-493. Membership; voting; nonprofit operation
§ 56-494. Service to members; to nonmembers
§ 56-495. Powers granted corporation
§ 56-496. Disposition of property
§ 56-497. Issue of obligations
§ 56-499. Purchase of own obligations
§ 56-500. Consolidation or merger
§ 56-501.1. Payment of certain patronage capital to spouse or next of kin of deceased person
§ 56-502. Regulation by State Corporation Commission
§ 56-506. Construction of chapter; conflicting laws
§ 56-507. Adoption of provisions by existing corporation
§ 56-508. Extension of service to territory not being served