§ 23-35-502 - Shares in name of minor.
23-35-502. Shares in name of minor.
(a) Shares may be issued in the name of a minor, if permitted by the articles of incorporation. These shares may be withdrawn by the minor, and payments made on the withdrawals shall be valid.
(b) No minor under sixteen (16) years of age shall be entitled to vote in the meetings of the members either personally or through his parent or guardian, nor may he become a director or committee member until he shall have reached legal age.