499.19 - CANCELLATION OF MEMBERSHIP OR STOCK.

        499.19  CANCELLATION OF MEMBERSHIP OR STOCK.         If a common stockholder or member dies, or becomes ineligible, or      is expelled, that person's stock or membership shall forthwith be      canceled.  In cases of expulsion the association shall pay the      stockholder or member its value as shown by the books on the date of      cancellation, but not more than its original issuing price, within      sixty days thereafter.  In cases of death or ineligibility, it shall      pay such value to the stockholder or member or the stockholder's or      member's personal representative within two years thereafter, without      interest.  
         Section History: Early Form
         [C35, § 8512-g19; C39, § 8512.19; C46, 50, 54, 58, 62, 66, 71,      73, 75, 77, 79, 81, § 499.19]