Whenever any electric membership corporation shall have borrowed money from any federal agency, the obligations issued to secure the payment of such money shall be and are classified as securities, the inherent qualities of which assure their sale and disposition without the perpetuation of fraud and which, together with membership certificates issued by any such electric membership corporation, shall not be subject to the Georgia securities laws.
History. Ga. L. 1937, p. 644, § 20; Code 1933, § 34C-1801, enacted by Ga. L. 1981, p. 1587, § 1.
Structure Georgia Code
Title 46 - Public Utilities and Public Transportation
Chapter 3 - Electrical Service
Article 4 - Electric Membership Corporations and Foreign Electric Cooperatives
§ 46-3-172. Applicability of Article
§ 46-3-174. Filing of Documents With Secretary of State; Filing of Articles of Correction
§ 46-3-175. Certification of Documents by Secretary of State
§ 46-3-177. Jurisdiction of Commission