Rayle Electric Membership Corporation v. Cook

Jenkins, Justice.

1. The constitutional amendment, ratified June 3, 1941 (Supp. Ga. Code Ann. § 2-5002; Ga. L. 1941, p. 84), provides that “There is hereby exempted from all taxation, State, county, municipal, school district, and political or territorial subdivision of the State having the authority to levy taxes, all co-operative, nonprofit, membership corporations organized under the laws of this State for the purpose of engaging in rural electrification, . . and all of the real and personal property owned or held by such corporations for such purposes. The exemption herein provided for…