§ 65-25-103. Nonprofit organization and operation.

TN Code § 65-25-103 (2019) (N/A)
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Electric cooperatives heretofore incorporated under the former “Electric Cooperative Law” or hereafter incorporated under this chapter shall be organized and operated on a nonprofit basis and without pecuniary gain, and shall furnish their services on an area coverage basis at the lowest cost consistent with sound business principles.