Each certificate for stock of a cooperative shall bear the manual or facsimile signature of a principal officer and shall state:

(1) The name of the cooperative, the number, par value, and class of the shares represented by the certificate, and whether or not it is membership stock.

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(2) Any restrictions on the issuance or transfer of such stock, including those provided by law and the articles.

(3) If more than one class of stock is authorized, the designation of the several classes, and their respective preferences, limitations, and relative right. In lieu of the full statement, this information may be given in summary form, or the certificate may state that the cooperative will, upon request, furnish the information required by this subdivision.

Source: SDC 1939, § 11.1119 as enacted by SL 1965, ch 23, § 1.