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Virginia Law

Code of Virginia

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Code of Virginia
Title 56. Public Service Companies
Chapter 16. Telephone Cooperatives Act
12/31/2024

§ 56-499. Purchase of own obligations.

A cooperative shall have power out of any funds available therefor to purchase any obligations issued by it at a price not exceeding the principal amount thereof and accrued interest thereon. All bonds so purchased shall be cancelled.

1950, p. 593; 1956, c. 434.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.