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2019 New Hampshire Revised Statutes
Title XXVII - Corporations, Associations, and Proprietors of Common Lands
Chapter 301-A - Consumers' Cooperative Associations
Section 301-A:16 - Recall of Share and Membership Certificates.
Universal Citation: NH Rev Stat § 301-A:16 (2019)
301-A:16 Recall of Share and Membership Certificates. –
The bylaws may give the directors the power to use the reserve funds to recall, at par value, the holdings of any member in excess of the amount requisite for membership. The bylaws may also provide that if any member has failed to patronize the association during a period of time specified in the bylaws, the directors may use the reserve funds to recall all his holdings and thereupon he shall cease to be a member of the association. When so recalled, such certificates of share or membership capital shall be either reissued or cancelled.
Source. 1983, 462:1, eff. July 1, 1983.
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