499.23 Dividends on common stock.
48 words·~1 min read·
/ia/chapter-499-cooperative-associations/499-23·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Unless the articles provide that common stock shall receive no dividends, the directors may declare noncumulative dividends thereon at such rate as they may fix, not exceeding eight percent per annum.
[C35, §8512-g23; C39, §8512.23; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §499.23]