A foreign nonprofit or cooperative corporation supplying or authorized to supply electric energy and owning or operating electric transmission or distribution lines in an adjacent state, prior to March 26, 1943, may construct or acquire extensions of such lines in this State within an area no point of which is more than 25 miles from the boundary line of this State and may operate such extensions without qualifying as a foreign corporation to do business in this State. Before constructing or operating such extensions, by an instrument executed and acknowledged on its behalf by its president or vice president, under its seal attested by its clerk or secretary, and filed with the Secretary of State, which instrument shall be in form and substance like that prescribed by 11 V.S.A. § 692, such a corporation shall designate the Secretary of State its agent to accept service of process on its behalf. Thereafter, such corporation shall have all the rights, powers, privileges, and immunities of a cooperative. Service of process shall be made upon the Secretary of State in accordance with the provisions of 12 V.S.A. §§ 851 and 852 and he or she shall forthwith forward one copy of the same by registered mail to such corporation at the address of its principal office.