Delaware Code Title 3 Sec. 8502 – Formation of associations; advertisement of intention to apply for …
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(a) Cooperative agricultural associations, instituted for the purposes of mutual help, having capital stock, may be formed under the provisions of this chapter by any number of persons, not less than 5, engaged in agriculture.
Terms Used In Delaware Code Title 3 Sec. 8502
- Association: means a corporation formed under this chapter. See Delaware Code Title 3 Sec. 8501
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: means the State of Delaware; and when applied to different parts of the United States, it includes the District of Columbia and the several territories and possessions of the United States. See Delaware Code Title 1 Sec. 302
(b) Notice of an intention to apply for a charter or articles of association shall be inserted in 1 newspaper of general circulation, printed in the county where the principal place of business is situated, for 1 insertion, setting forth briefly the character and purpose of the corporation and the kind of service to be performed by it. The advertisement shall be published at least 3 days before the application is laid before the Secretary of State.
41 Del. Laws, c. 132, §§ ?2, 4; 3 Del. C. 1953, § ?8502;