§37-7-15. Bonds or obligations - Purchase of own obligations.

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A corporation shall have power out of any funds available therefor to purchase any obligations issued by it at a price not exceeding the principal amount thereof and accrued interest thereon. All obligations so purchased shall be cancelled.

(Acts 1935, No. 45, p. 100; Code 1940, T. 18, §24.)

                    
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