Sec. 16. In connection with the issuance of any obligations, a cooperative corporation may make such covenants or agreements and do any and all such acts and things as may be necessary, convenient or desirable in order to secure its obligations or which, in the absolute discretion of the board, tend to make the obligations more marketable, notwithstanding that such covenants, agreements, acts and things may constitute a limitation on the exercise of the powers granted under this chapter.
Ind. Code § 8-1-17-16
Obligations; covenants and agreements to secure
Known as the Rural Communications Cooperative Act
The act spans §§ 8-1-17-1 to 8-1-17-9 (34 sections).
Formerly: Acts 1951, c.193, s.16
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.