State Codes and Statutes
Statutes > Virginia > Title-13-1 > Chapter-3 > 13-1-303§ 13.1-303. Investment in other stock.
At any regular meeting or any regularly called special meeting of a stockcooperative association at which at least a majority of all its stockholdersshall be present or represented, any such association may by a majority voteof the stockholders present or represented subscribe for shares and investits capital or reserve fund in the capital stock of any corporation orcooperative association; provided that it shall not so invest a total amountin excess of twenty-five percent of the amount of its capital stock.
(Code 1950, § 13-240; 1956, c. 428; 1994, c. 217.)
