Cooperative dealing in own stock.

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47-16-23. Cooperative dealing in own stock.

Unless the articles provide otherwise, a cooperative may acquire, recall, exchange, redeem, and reissue its own stock. Provisions in the articles and on the stock certificate may reserve to the cooperative a prior right to acquire any stock offered for sale, or a right to recall the stock of any stockholder, or both of said rights.

Source: SDC 1939, §11.1118 (3) as enacted by SL 1965, ch 23, §1.


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