New York Cooperative Corporations Law Section 10 - Classes Of Corporations.

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    § 10.  Classes  of  corporations.  A cooperative corporation shall be
  either stock or non-stock. A stock cooperative shall  issue  to  members
  shares  of  stock  evidencing  membership  and  may issue, to members or
  others, shares of stock of a different class or classes  not  evidencing
  membership.

Last modified: August 9, 2006