26-2406. DURATION OF MEMBERSHIP. Membership in the corporation shall be for the duration of the corporation; provided, that upon written notice given to the corporation five (5) years in advance, a member may withdraw from membership in the corporation at the expiration date of such notice.
A member shall not be obligated to make any loans to the corporation pursuant to calls made subsequent to notice of the intended withdrawal of said member.
History:
[(26-2406) 1963, ch. 273, sec. 6, p. 695; I.C., sec. 30-1506 (1963 Supp.).]
Structure Idaho Code
Chapter 24 - INDUSTRIAL DEVELOPMENT CORPORATIONS
Section 26-2401 - DEFINITIONS.
Section 26-2402 - WHO MAY INCORPORATE.
Section 26-2403 - POWERS OF THE CORPORATION.
Section 26-2404 - RIGHT TO PURCHASE OR TRANSFER CAPITAL STOCK OR OBLIGATIONS OF CORPORATION.
Section 26-2405 - APPLICATION FOR MEMBERSHIP — LOANS.
Section 26-2406 - DURATION OF MEMBERSHIP.
Section 26-2407 - POWERS OF STOCKHOLDERS AND MEMBERS.
Section 26-2408 - AMENDMENT TO ARTICLES OF INCORPORATION.
Section 26-2409 - BUSINESS OF CORPORATION MANAGED BY BOARD OF DIRECTORS.
Section 26-2410 - EARNED SURPLUS.
Section 26-2411 - DEPOSITS IN BANKS.
Section 26-2412 - ANNUAL FINANCIAL EXAMINATION.
Section 26-2414 - DURATION OF CORPORATION.
Section 26-2415 - DISSOLUTION.
Section 26-2416 - CREDIT OF STATE NOT PLEDGED.
Section 26-2417 - CORPORATION DEEMED A STATE DEVELOPMENT COMPANY.