§ 7712. Investment of capital stock in other corporations.
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/pa/title-15/chapter-77/7712A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§ 7712. Investment of capital stock in other corporations.
If the articles permit, a corporation may, by a majority vote of its members at a meeting specially convened, authorize the directors to invest, in the name of the corporation, an amount of its internal capital accounts, including both individual capital accounts and the collective reserve accounts, in the capital stock of any other domestic, foreign or alien workers' cooperative corporations. The corporation may, by a majority vote of its members at a meeting specially convened, permit an investment in the nonvoting preferred stock of the corporation by any other domestic, foreign or alien workers' cooperative corporation.
15c7713s