425.02 Purpose.
51 words·~1 min read·
/fl/title-xxx/chapter-425/425-02A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Cooperative, nonprofit, membership corporations may be organized under this chapter for the purpose of supplying electric energy and promoting and extending the use thereof in rural areas. Corporations organized under this chapter and corporations which become subject to this chapter in the manner hereinafter provided are hereinafter referred to as “cooperatives.”