22-2618. PURCHASING BUSINESS OF OTHER ASSOCIATIONS, PERSONS, FIRMS OR CORPORATIONS — PAYMENT — STOCK ISSUED. Whenever an association organized hereunder with preferred capital stock, shall purchase the stock or any property, or any interest in any property of any person, firm, or corporation or association, it may discharge the obligations so incurred, wholly or in part, by exchanging for the acquired interest, shares of its preferred capital stock to an amount which at par value would equal a fair market value of the stock or interest so purchased, as determined by the board of directors. In that case the transfer to the association of the stock or interest purchased shall be equivalent to payment in cash for the shares of stock issued.
History:
[(22-2618) 1921, ch. 124, sec. 18, p. 299; I.C.A., sec. 22-2018.]
Structure Idaho Code
Title 22 - AGRICULTURE AND HORTICULTURE
Chapter 26 - COOPERATIVE MARKETING ASSOCIATIONS
Section 22-2601 - DECLARATION OF POLICY.
Section 22-2602 - DEFINITIONS — SHORT TITLE.
Section 22-2603 - ASSOCIATIONS — WHO MAY ORGANIZE.
Section 22-2605 - PRELIMINARY INVESTIGATION.
Section 22-2608 - ARTICLES OF INCORPORATION — CONTENTS — SUBSCRIBING AND FILING.
Section 22-2609 - ARTICLES OF INCORPORATION — AMENDMENT.
Section 22-2610 - BYLAWS — ADOPTION — CONTENTS — AMENDMENT.
Section 22-2611 - GENERAL AND SPECIAL MEETINGS — HOW CALLED.
Section 22-2613 - ELECTION OF OFFICERS.
Section 22-2615 - REMOVAL OF OFFICER OR DIRECTOR.
Section 22-2617 - MARKETING CONTRACT.
Section 22-2620 - CONFLICTING LAWS NOT TO APPLY.
Section 22-2621 - INTEREST IN OTHER CORPORATIONS OR ASSOCIATIONS.
Section 22-2622 - CONTRACTS AND AGREEMENTS WITH OTHER ASSOCIATIONS.
Section 22-2622A - CONSOLIDATION AND MERGER AGREEMENTS — VOTING REQUIREMENTS.
Section 22-2623 - ASSOCIATION HERETOFORE ORGANIZED MAY ADOPT PROVISIONS OF CHAPTER.
Section 22-2625 - SEPARABILITY.