N.D. Cent. Code § 10-13-05
This is the official text of N.D. Cent. Code § 10-13-05, part of North Dakota’s Cent. Code — part of the compiled statutory law of North Dakota, published by the state as "Cent. Code." Browse the sections below, each linked to its official government source.
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10-13-05. Nonprofit basis - Rates and fees
Official statutory text
10-13-05. Nonprofit basis - Rates and fees
Each electric cooperative shall be operated without profit to its members, but the rates,
fees, rents, or other charges for electrical energy and for any other facilities, supplies,
equipment, or services furnished by the cooperative shall be sufficient at all times:
1. To pay all the operating and maintenance expenses necessary or desirable for the
prudent conduct of its business and the principal and interest on the obligations issued
or assumed by the cooperative in the performance of the purpose for which it was
organized.
2. For the creation of reserves.
Each electric cooperative shall be operated without profit to its members, but the rates,
fees, rents, or other charges for electrical energy and for any other facilities, supplies,
equipment, or services furnished by the cooperative shall be sufficient at all times:
1. To pay all the operating and maintenance expenses necessary or desirable for the
prudent conduct of its business and the principal and interest on the obligations issued
or assumed by the cooperative in the performance of the purpose for which it was
organized.
2. For the creation of reserves.
Status: in_force · Read it on the official government site
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