Any corporation organized under the laws of another state on a nonprofit or a cooperative basis for the purpose of supplying electric energy in rural areas and owning and operating electric transmission or distribution lines in a state adjacent to this state, shall be allowed to transact business in this state and shall have the same rights, powers, and privileges as a cooperative organized under this chapter upon the filing with the Department of State of a certified copy of its charter or articles of incorporation and upon payment of the filing fee in this chapter provided.
Fla. Stat. § 425.27
Foreign corporations
Known as the Rural Electric Cooperative Law
The act spans §§ 425–425 (31 sections).
Applied in 1 court decision — leading case Alabama Electric Cooperative, Inc. v. First National Bank (1982)
Most recently applied in Alabama Electric Cooperative, Inc. v. First National Bank (September 1982)
History.--s. 26, ch. 19138, 1939; CGL 1940 Supp. 6494(69); ss. 10, 35, ch. 69-106.
Official source: Online Sunshine (Florida Legislature). Reproduced from public-domain Florida statutes; confirm against the official source for the current text. Not legal advice.