17-5422. Same; minimum requirements.
17-5422
17-5422. Same; minimum requirements.
No association shall operate with guarantee stock unless its minimum
initial guarantee stock capital subscribed for and paid in shall be at
least twenty-five thousand dollars ($25,000) and at all times be at least
one percent (1%) of the withdrawable share capital: Provided, That no
association shall be required to have guarantee stock capital subscribed
for and paid in exceeding two hundred fifty thousand dollars ($250,000) in
amount.
History: L. 1955, ch. 141, § 4; L. 1961, ch. 125, § 1; July 1.