17-20-1202. Mortgage or encumbrance of assets of a cooperative utility.
(a) The board of directors, without authorization by the members, shall have full power and authority:
(i) To borrow monies from any source and in such amounts as the board may from time to time determine; and
(ii) To mortgage or otherwise pledge or encumber any or all of the cooperative utility's properties or assets as security therefor.
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