Code of Virginia § 13.1-305. Rights of subscribers before full payment.
54 words·~1 min read·
/va/title-13-1/chapter-3/13-1-305A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Certificates of stock of a stock cooperative association 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.
Code 1950, § 13-242; 1956, c. 428; 1994, c. 217 .