§2191. Payment; common; ownership limitations
No association shall issue a certificate for stock to a member until it has been fully paid for. The promissory notes of the members may be accepted by the association as full or partial payment. The association shall hold the stock as security for the payment of the note, but such retention as security shall not affect the member's right to vote. An association, in its bylaws, may limit the amount of common stock which one member may own.
Structure Maine Revised Statutes
Part 2: CORPORATIONS WITHOUT CAPITAL
Chapter 87: FISH MARKETING ASSOCIATIONS
13 §2191. Payment; common; ownership limitations
13 §2192. Common; voting power
13 §2193. Notation of restriction on transfer
13 §2194. Purchase by association
13 §2195. Distinction between classes of stock or holders
13 §2197. Preferred; issuance in payment for purchases by association