N.J.S.A. 48:24-19

Security of borrowed money.

48:24-19 Security of borrowed money. 19. Whenever any rural electric cooperative subject to P.L.2017, c.297 (C.48:24-1 et al.) has borrowed money from any federal agency, the obligations issued to secure the payment of the money shall be exempt from the provisions of the "Uniform Securities Law (1967)," P.L.1967, c.93 (C.49:3-47 et seq.) nor shall the provisions of P.L.1967, c.93 (C.49:3-47 et seq.) apply to the issuance of membership certificates by that cooperative. L.2017, c.297, s.19.

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This is the verbatim text of N.J.S.A. 48:24-19, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.

N.J.S.A. 48:24-19 — Security of borrowed money. | Kyzer