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Code · South Dakota · Title 47 · Chapter 47-16

47-16-22. Membership stock--Transfer of stock.

61 words·~1 min read·/sd/title-47/chapter-47-16/47-16-22

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The articles of a cooperative may require that members own one or more shares of membership stock. Such stock shall be issued or transferred only to a person eligible to become a member, and only when such person satisfies other requisites for membership. Unless restricted by the articles, stock other than membership stock may be issued or transferred to any person.
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