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2015 Tennessee Code
Title 65 - Public Utilities and Carriers
Chapter 25 - Rural Electric and Community Services Cooperatives
§ 65-25-103 - Nonprofit organization and operation.

TN Code § 65-25-103 (2015) What's This?

Electric cooperatives heretofore incorporated under the former "Electric Cooperative Law" or hereafter incorporated under this chapter shall be organized and operated on a nonprofit basis and without pecuniary gain, and shall furnish their services on an area coverage basis at the lowest cost consistent with sound business principles.

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