A reserve fund association formed under the laws of this state and existing on January 1, 1976, shall be known as a stock association after January 1, 1976. After January 1, 1976:
(1) All reserve fund stock of such an association shall be known as capital stock and shall be considered part of the stated capital of such an association.
(2) All persons owning reserve fund shares of such an association shall be considered stockholders of such an association. [1975 c.582 §146]
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