(805 ILCS 310/10) (from Ch. 32, par. 314)
Sec. 10.
At any regular or special meeting, legally called, an association
organized under this Act or as a co-operative association under "The General
Corporation Act", approved June 28, 1919, as amended may, by a majority
vote of its members invest not to
exceed twenty-five per cent of its paid-up common stock and reserve fund in
the capital stock of any corporation or other co-operative association; and
any association organized under this Act or organized as a co-operative
association under the General Incorporation Act, which is a member of, and
is selling its products to or through or buying products from or through
another association organized under this Act, or as a co-operative
association under the General Incorporation Act, may hold stock in such
latter association to any amount which is necessary in order that
continuous capital may be raised for such latter association from its
member associations, based in amount upon the volume of business transacted
by such member associations with said association: Provided, however, that
ten days' notice has been previously given to each shareholder, stating in
said notice the purpose of the meeting.
(Source: P.A. 83-333.)
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