Section 10.15.045. Capital stock.

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A cooperative, including a cooperative that requires a membership fee rather than the holding of membership stock as a prerequisite of membership, may issue the number of shares of capital stock stated in its articles.  The shares may be divided into more than one class with the designations, preferences, limitations and relative rights stated in the articles, except that capital stock has no voting power except as specifically authorized in this chapter.

Notes

History

(Sec. 9(1) ch 107 SLA 1959)

                    
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