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Illinois Compiled Statutes 805 ILCS 310 Co-operative Act. Section 19

Legal Research Home > Illinois Laws

(805 ILCS 310/19) (from Ch. 32, par. 323)

Sec. 19. The by-laws shall provide that the profits shall be distributed, first-upon stock and to purchasers or sellers (customers) based upon the percentage of purchases, or sales; or, second-to purchasers or sellers exclusively, based upon the percentage of purchasers or sales; and no vested interest shall attach to any of the above methods which shall prevent changing from and substituting another provision provided herein.

(Source: Laws 1915, p. 325.)

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Last modified: February 20, 2012