A corporation shall have power out of any funds available therefor to purchase any bonds issued by it at a price not exceeding the principal amount thereof and accrued interest thereon. All bonds so purchased shall be canceled.
N.C. Gen. Stat. § 117-23
Purchase and cancellation of bonds
Known as the Electric Membership Corporation Act
The act spans §§ 117-10 to 117-9 (26 sections).
1935, c. 291, s. 18.
Official source: North Carolina General Assembly. Reproduced from public-domain North Carolina statutes; confirm against the official source for the current text. Not legal advice.