Illinois Compiled Statutes 310 ILCS 5/14 – No holder of stock or other security in a housing corporation shall …
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Terms Used In Illinois Compiled Statutes 310 ILCS 5/14
- 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.
No holder of stock or other security in a housing corporation shall receive any dividend or interest in any one year in excess of six per cent per annum upon the par value of the stock or security held by him, except to the extent to which dividends or interest payments may have been omitted in a previous year or years.