§ 26-203. Bonus to be paid by late subscribers.

Current through October 23, 2012

Any person applying for membership or stock after a month from the time of the incorporation may be required to pay on subscribing such bonus or assessment as may be fixed by said bylaws in order to place said new members or stockholders on a footing with the original members and others holding stock at the time of such application.

                
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(Mar. 3, 1901, 31 Stat. 1299, ch. 854, § 690.)

HISTORICAL AND STATUTORY NOTES

Prior Codifications

1981 Ed., § 26-503.

1973 Ed., § 26-403.