Print Print
  • PART I ADMINISTRATION OF THE GOVERNMENT
  • TITLE XXII CORPORATIONS
  • CHAPTER 157 CO-OPERATIVE CORPORATIONS
  • Section 5 Investment of reserve fund

Section 5. At any regular meeting, or at any duly called special meeting, at which a majority of its stockholders are present, a corporation formed under section three may authorize the investment if its reserve fund or any part thereof, first, in the building where it is doing business, or, second, in a first mortgage of real estate owned and occupied as a dwelling by any of its stockholders.