Purchase of own obligations
Known as the Telephone Cooperatives Act
The act spans §§ 56–56 (25 sections).
A cooperative 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 bonds so purchased shall be cancelled.
1950, p. 593; 1956, c. 434.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.