West Virginia Code 31G-2-5 – Members
Current as of: 2023 | Check for updates
|
Other versions
(a) Under the terms and conditions prescribed in the bylaws adopted by it, a cooperative association may admit as members, or issue common stock to, only qualified persons.
Terms Used In West Virginia Code 31G-2-5
- association: means any corporation organized under this article. See West Virginia Code 31G-2-1
- in writing: includes any representation of words, letters, or figures, whether by printing, engraving, writing, or otherwise. See West Virginia Code 2-2-10
- Member: means a member of an association without capital stock and a holder of common stock in an association organized with capital stock. See West Virginia Code 31G-2-1
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10
(b) If a member of a nonstock association be other than a natural person, the member may be represented by an individual, associate, officer or manager or member thereof, duly authorized in writing.
(c) One association organized hereunder may become a member or stockholder of any other association or associations organized under this article or similar laws of any state.