Statutes, codes, and regulations
CODE OF GEORGIA
Title 46 - PUBLIC UTILITIES AND PUBLIC TRANSPORTATIONChapter 3 - ELECTRICAL SERVICEArticle 4 - ELECTRIC MEMBERSHIP CORPORATIONS AND FOREIGN ELECTRIC COOPERATIVES
Part 1 - GENERAL PROVISIONS
Section 46-3-176 - Obligations issued to secure payment of federal loans as constituting securities; exemption of obligations and membership certificates from Georgia securities laws

Ga. Code § 46-3-176

Download
PDF
Current through 2023-2024 Legislative Session Chapter 709
Section 46-3-176 - Obligations issued to secure payment of federal loans as constituting securities; exemption of obligations and membership certificates from Georgia securities laws

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.

OCGA § 46-3-176