497.15 Paid-up stock — right to vote.
59 words·~1 min read·
/ia/chapter-497-cooperative-associations/497-15·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Certificates of stock shall not be issued to any subscriber until fully paid, but the bylaws of the association may allow subscribers to vote as stockholders; provided part of the stock subscribed for has been paid in cash.
[SS15, §1641-r11; C24, 27, 31, 35, 39, §8473; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §497.15]