South Carolina Code 33-47-640. Limitation on amount of stock held
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Terms Used In South Carolina Code 33-47-640
- association: means any corporation organized under this chapter. See South Carolina Code 33-47-20
No stockholder of a cooperative association shall own more than one half of the issued common stock of the association. And an association, in its bylaws, may limit the amount of common stock which one member may own to any amount less than one twentieth of the issued common stock.