48:24-2 Definitions relative to rural electric cooperatives.
2. As used in P.L.2017, c.297 (C.48:24-1 et al.):
"Acquire" means to construct or by purchase, lease, devise, gift, or other mode of acquisition.
"Board" means the board of directors of a rural electric cooperative.
"Federal agency" means any department, administration, commission, board, bureau, office, establishment, agency, authority, or instrumentality of the United States of America.
"Member" means the incorporators of a rural electric cooperative and each person thereafter lawfully admitted to membership therein.
"Obligations" means bonds, notes, debentures, interim certificates, or receipts, and all other evidence of indebtedness, whether secured or unsecured, issued by a rural electric cooperative.
"Person" means any individual or entity but shall not include any Federal agency, state, or any political subdivision thereof.
"Rural area" means any area included within the boundaries of any municipality that, as of the date of the rural electric cooperative's articles of incorporation, has a population of 30,000 inhabitants or less and a population density less than 4,000 persons per square mile, according to the latest federal decennial census, including both the farm and nonfarm population thereof.
"Rural electric cooperative" or "cooperative" means a nonprofit corporation entitled to the rights, benefits, and protections established under P.L.2017, c.297 (C.48:24-1 et al.).
L.2017, c.297, s.2.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
