Sec. 17. A cooperative corporation shall have power out of any funds available therefor to purchase any obligations issued by it at a price not exceeding the principal amount thereof and accrued interest thereon. All obligations so purchased shall be canceled.
Ind. Code § 8-1-17-17
Purchase of own obligations
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.17.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.