Section 65-25-103 - Nonprofit organization and operation

Electric cooperatives heretofore incorporated under the former 'Electric Cooperative Law' or hereafter incorporated under this chapter shall be organized and operated on a nonprofit basis and without pecuniary gain, and shall furnish their services on an area coverage basis at the lowest cost consistent with sound business principles.Acts 1988, ch. 689, § 2; T.C.A. § 65-25-203.