Exemption from securities law

N.D. Cent. Code § 10-13-08
in effect
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10-13-08. Exemption from securities law The provisions of chapter 10-04 shall not apply to the issuance of membership certificates in electric cooperatives organized under this chapter nor to obligations issued by any such cooperative to secure the repayment of moneys borrowed by the cooperative from or allotted to it by any federal agency.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://ndlegis.gov/cencode/t10c13.pdf#nameddest=10-13-08Fetched: 10/16/2026