35-19-201. Powers of buying cooperative. A buying cooperative may:
     (1) sue and be sued in its corporate name;
     (2) have existence for as long as it serves its purpose;
     (3) adopt a corporate seal and alter the seal at pleasure;
     (4) own, possess, and enjoy as much real and personal property as is necessary for the transaction of its business and sell and dispose of the property;
     (5) borrow money, or otherwise contract indebtedness, and pledge its property, both real and personal, to secure the payment of the borrowed money or contract for debt;
     (6) enter into contracts and other obligations for the purchase and sale of electricity to its members;
     (7) sell or otherwise dispose of electricity on the wholesale market not consumed by its members;
     (8) conduct its business and exercise all of its powers within or outside of this state;
     (9) adopt, amend, and repeal bylaws; and
     (10) except as prohibited in 35-19-202, do and perform all other acts and things and have and exercise all other powers that may be necessary, convenient, or appropriate to accomplish the purpose for which the buying cooperative is organized.

     History: En. Sec. 5, Ch. 575, L. 1999.