§ 13.1-307. Permissible limitation of stock ownership or voting rights
Any cooperative association may, either in its charter or by bylaws, provide and require that no membership or share of its stock shall be issued to or owned by any person not a member of a nonstock corporation or nonstock corporations named or designated in such charter or bylaws, or may in like manner provide that memberships or shares of its stock may be issued to or owned by persons not members of such designated nonstock corporation or nonstock corporations, but that when so owned such stock shall have no voting power.
(Code 1950, § 13-244; 1956, c. 428; 1994, c. 217.)
Sections: Previous 13.1-301.1 13.1-301.2 13.1-302 13.1-303 13.1-304 13.1-305 13.1-306 13.1-307 13.1-308 13.1-309 13.1-309.1 13.1-310 13.1-311 13.1-311.1 13.1-312 NextLast modified: April 2, 2009