Terms Used In Vermont Statutes Title 30 Sec. 3002a

  • Contract: A legal written agreement that becomes binding when signed.
  • Cooperative: means a corporation organized under this chapter or which becomes subject to this chapter in the manner hereinafter provided. See

§ 3002a. Obligations treated as expenses

The obligations of any cooperative under any contract authorized under section 3002 of this title shall not be deemed to constitute an indebtedness or a lending of credit of the cooperative, but shall be treated as expenses of operating an electric plant. (Added 1989, No. 112, § 3b, eff. June 22, 1989.)

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