Statutes > Arkansas Statutes > Title 23 - Public Utilities and Regulated Industries > Subtitle 1 - Public Utilities And Carriers > Chapter 18 - Light, Heat, And Power Utilities > Subchapter 3 - Electric Cooperative Corporation Act > § 23-18-330 - Exemptions from Arkansas Securities Act.

§ 23-18-330 - Exemptions from Arkansas Securities Act.

23-18-330. Exemptions from Arkansas Securities Act.

Whenever any corporation organized under this subchapter shall have borrowed money from any federal agency, the obligations issued to secure the payment of such money shall be exempt from the provisions of the Arkansas Securities Act, 23-42-101 et seq. The provisions of the Arkansas Securities Act, 23-42-101 et seq., shall not apply to the issuance of membership certificates by any corporation organized under this subchapter.