Examples of Membership stock in a sentence
Membership stock may be held only by producers of agricultural products and by associations of agricultural producers, including associations, cooperatives and other entities which are operated on a cooperative basis, whether such producers or entities are residents of, or organized under the laws of, the United States, a state or of another jurisdiction or sovereign nation.
Membership stock and equity stock may be transferred only with the consent of the Cooperative and only to persons eligible for membership.
Fourth Priority The original price paid for a membership interest to qualify a person as a Member of the cooperative in the following order of priority: Full Membership stock, Professional Membership stock, Supporting Membership stock.
Membership stock" means any class of stock or other equity interest in an association a cooperative, continuous ownership of which is required for membership in an association the cooperative.(N) "Patron" means a person with which a cooperative has made an enforceable agreement to allocate and distribute a per unit retain, patronage dividend, or patronage refund with respect to business conducted by the cooperative with or for the person.
Membership stock issued to deceased or voluntarily terminated Members for whom a timely request for redemption is not made, and the Membership Stock of Members who are terminated for cause or who default on an installment of a payment plan for purchase of Membership Stock (only the amount actually paid, in the case of default) are deferred to the Revolving Plan.