California Corporations Code

§ 13352

CORP § 13352Div. 3 · Title 1 · Part 3 · Ch. 7

Statute text

The contract may provide that the association may sell or resell the fishery products delivered by its members, with or without taking title thereto; and pay over to its members the resale price, after deducting all necessary selling, overhead, and other costs and expenses, including interest on preferred stock, not exceeding 8 percent per annum, and reserves for retiring the stock, if any; and other proper reserves; and interest not exceeding 8 percent per annum upon common stock.

Legislative history

Added by Stats. 1953, Ch. 207.