Code of Virginia - Title 13.1 Corporations - Section 13.1-305 Rights of subscribers before full payment

§ 13.1-305. Rights of subscribers before full payment

Certificates of stock of a stock cooperative association shall not be issued to any subscriber until fully paid, but the bylaws of the association may allow subscribers to vote as stockholders provided part of the stock subscribed for has been paid in cash.

(Code 1950, § 13-242; 1956, c. 428; 1994, c. 217.)

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Last modified: April 2, 2009