Investment in other stock

Va. Code Ann. § 13.1-303
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
At any regular meeting or any regularly called special meeting of a stock cooperative association at which at least a majority of all its stockholders shall be present or represented, any such association may by a majority vote of the stockholders present or represented subscribe for shares and invest its capital or reserve fund in the capital stock of any corporation or cooperative association; provided that it shall not so invest a total amount in excess of twenty-five percent of the amount of its capital stock. Code 1950, § 13-240; 1956, c. 428; 1994, c. 217 .
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/13.1-303/Fetched: 10/16/2026