Electric cooperatives heretofore incorporated under the former “Electric Cooperative Law” or hereafter incorporated under this chapter shall be organized and operated on a nonprofit basis and without pecuniary gain, and shall furnish their services on an area coverage basis at the lowest cost consistent with sound business principles.
Nonprofit organization and operation
Tenn. Code Ann. § 65-25-103, under Rural Electric and Community Services Cooperatives.
Tenn. Code Ann. § 65-25-103