At any regular meeting or at any duly called special meeting at which at least a majority of all its stockholders shall be present an association organized under this chapter may, by a majority vote of those present, authorize the investment of its reserve fund or any part thereof or of not to exceed twenty-five per cent of its capital in the capital stock of any other cooperative association. HISTORY: 1962 Code Section 12-816; 1952 Code Section 12-816; 1942 Code Section 8145; 1932 Code Section 8145; Civ. C. '22 Section 4339; 1915 (29) 235.
South Carolina Legal Code