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2017 New Jersey Revised Statutes
TITLE 48 - PUBLIC UTILITIES
Section 48:24-19 - Security of borrowed money.
Universal Citation: NJ Rev Stat § 48:24-19 (2017)
48:24-19 Security of borrowed money.
19. Whenever any rural electric cooperative subject to P.L.2017, c.297 (C.48:24-1 et al.) has borrowed money from any federal agency, the obligations issued to secure the payment of the money shall be exempt from the provisions of the "Uniform Securities Law (1967)," P.L.1967, c.93 (C.49:3-47 et seq.) nor shall the provisions of P.L.1967, c.93 (C.49:3-47 et seq.) apply to the issuance of membership certificates by that cooperative.
L.2017, c.297, s.19.
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