California Corporations Code 13352 – The contract may provide that the association may sell or resell the …
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The contract may provide that the association may sell or resell the fishery products delivered by its members, with or without taking title thereto; and pay over to its members the resale price, after deducting all necessary selling, overhead, and other costs and expenses, including interest on preferred stock, not exceeding 8 percent per annum, and reserves for retiring the stock, if any; and other proper reserves; and interest not exceeding 8 percent per annum upon common stock.
(Added by Stats. 1953, Ch. 207.)
Terms Used In California Corporations Code 13352
- Association: means any corporation organized under this part. See California Corporations Code 13202
- Contract: A legal written agreement that becomes binding when signed.
- Fishery products: includes fish, crustaceans, mollusks, and marine products for human consumption. See California Corporations Code 13202