Laws of North Carolina (Last Updated: May 12, 2015) |
Chapter54. Cooperative Organizations. |
SubchapterIV. COOPERATIVE ASSOCIATIONS |
Article17. Stockholders and Officers |
§54-119. Certificate for stock fully paid
Latest version.
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Certificates of stock shall not be issued to any subscriber until fully paid, but the bylaws of the association may allow subscribers to vote as shareholders: Provided, part of the stock subscribed for has been paid in cash.
(1915, c. 144, s. 11; C.S., s. 5250.)