N.D. Cent. Code § 10-13-05

Current through the 2023 Legislative Sessions

Section 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.

N.D.C.C. § 10-13-05