17-1502. Stock.
17-1502
17-1502. Stock.
That every such corporation when so organized and incorporated may issue
stock to its shareholders in such amounts and with such limitations as are
hereinafter defined. That the shareholders in any such mutual or
cooperative corporation, shall each have but one vote in all matters
pertaining to the business of such corporation, without regard to the
number of shares owned, and no shareholder may own to exceed 5% of the
total capital stock of any such cooperative corporation, organized under
the provisions of this act; and no such shareholder in any cooperative
corporation may own to exceed 5% of the total capital stock of any other
cooperative corporation; and no cooperative corporation shall own to
exceed 5% of the total capital stock of any other cooperative corporation.
History: L. 1915, ch. 159, § 2; R.S. 1923, 17-1502.