Sec. 10.15.070. Certificates representing shares.

142 words·~1 min read·/ak/title-10/chapter-15/10-15-070

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Each certificate of stock of a cooperative must bear the manual or facsimile signature of a principal officer and must include the following information:

(1)the name of the cooperative, number and class of the shares represented by the certificate, the par value of each share or a statement that the shares are without par value, and if the shares are membership stock, that designation;

(2)any restrictions on the issuance or transfer of the shares;

(3)if more than one class of stock is authorized or if stock is authorized in a cooperative that requires a membership fee of its members, designation of the several classes of stock and the respective preferences, limitations, and relative rights of the classes; instead of a full statement, the information required by this paragraph may be given in summary form.