§ 117-10. Formation authorized. - North Carolina Statutes

§ 117‑10. Formation authorized.

Any number of natural persons not less than three may, by executing,filing and recording a certificate as hereinafter provided, form a corporationnot organized for pecuniary profit for the purpose of promoting and encouragingthe fullest possible use of electric energy in the rural section of the Stateby making electric energy available to inhabitants of the State at the lowestcost consistent with sound economy and prudent management of the business ofsuch corporations. (1935, c. 291, s.5.)