An association may charge initial membership fee and a fee for transfer of membership or capital, as may be authorized by the by-laws, but no such fee shall exceed twenty-five cents per share or per one hundred dollars of the account.

Terms Used In Arizona Laws 6-438

  • Account: means withdrawable capital deposited with or invested in an association in accordance with any plan authorized by this chapter unless such term is otherwise designated or qualified. See Arizona Laws 6-401
  • Association: means every association to which this chapter applies as defined in the section concerning scope of chapter. See Arizona Laws 6-401
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