13.1-305 - Rights of subscribers before full payment. - Virginia Statutes

§ 13.1-305. Rights of subscribers before full payment.

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

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