§ 117-9. Issuance of privilege for formation of such corporation.
§ 117‑9. Issuanceof privilege for formation of such corporation.
Whenever any such application is made by as many as five members of thecommunity, the North Carolina Rural Electrification Authority shall cause asurvey of said territory to be made and if, in its opinion, the proposal isfeasible, shall issue to said community a privilege for the formation of acorporation as hereinafter set out. Whenever an application has been filed byany community with the North Carolina Rural Electrification Authority, and itsapplication for formation of an electric membership corporation has beenapproved, the same may be formed as hereinafter provided. (1935, c. 291, s. 4.)