10-2080. Exemption from securities
regulations


The provisions of chapter 12 of title 44 shall not apply to any note, bond or other
evidence of indebtedness issued by a cooperative doing business in this state pursuant to
this article to the United States or any agency or instrumentality thereof, or to any
mortgage, deed of trust or other instrument executed to secure such note, bond or other
evidence of indebtedness, nor shall such provisions apply to the issuance of membership
certificates or other evidence of member interest by a cooperative.