Sec. 17. A cooperative corporation 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 obligations so purchased shall be canceled.
Formerly: Acts 1951, c.193, s.17.
Structure Indiana Code
Title 8. Utilities and Transportation
Article 1. Utilities Generally
Chapter 17. Telephones─rural Telephone Cooperative Act
8-1-17-2. Formation of Corporation
8-1-17-2.2. Telephone Cooperative Corporations Formed Before July 1, 2020
8-1-17-4. Articles of Incorporation
8-1-17-8. Board of Directors; Powers and Duties
8-1-17-10. Corporate Purpose; Local Cooperative Corporation
8-1-17-11. General Cooperative Corporation and Local Cooperative Corporation Distinguished
8-1-17-12. General Grant of Powers to Corporation
8-1-17-13. Powers of Cooperative Corporation Enumerated
8-1-17-14. Sale, Encumbrance, or Other Disposition of Property
8-1-17-15. Obligations; Authority for Issuance
8-1-17-16. Obligations; Covenants and Agreements to Secure
8-1-17-17. Purchase of Own Obligations
8-1-17-18.2. Consolidation of Corporations
8-1-17-19. Consolidation of Corporations; Transfer of Assets, Franchises, and Obligations
8-1-17-24. Principal Office; Change of Location
8-1-17-27. General Nonprofit Corporation Act; Application to Chapter
8-1-17-28. Construction of Chapter
8-1-17-29. Members Not Liable for Corporate Debts or Liabilities