Texas Agriculture Code

§ 52.065 — PREFERRED STOCK

AG § 52.065Title 4. AGRICULTURAL ORGANIZATIONS · Ch. 52. COOPERATIVE MARKETING ASSOCIATIONS · Art. E. MEMBERSHIP CERTIFICATES AND STOCK

Statute text

View on source

(a)A marketing association organized with capital stock may issue preferred stock with or without the right to vote.

(b)The association may redeem preferred stock on conditions provided by the association's articles of incorporation and printed on the face of the stock certificates.

Legislative history

Acts 1981, 67th Leg., p. 1109, ch. 388, Sec. 1, eff. Sept. 1, 1981.