American Samoa § 30.0502 - Operations
Full text of American Samoa American Samoa Code Annotated § 30.0502 — Operations, with citation guidance and answers to common questions.
§ 30.0502. Operations
A nonprofit cooperative corporation may be incorporated in accordance with the provisions of chapters 01, 02, 03, and 05 of this title except that: (a) Voting powers must be one vote for each member, regardless of stock ownership. (b) Financial surpluses must be disposed of in accordance with the principle of services at cost to members after allowance of interest on capital at a reasonable rate and provision for prudent reserves. (c) The name of the corporation must include the word “cooperative” in lieu of the words “corporation”, “incorporated”, or “limited’’. (d) The minimum limitation on authorized and paid-in capital stock does not apply. (e) No dividends on capital stock may be declared.
Frequently Asked Questions About American Samoa § 30.0502
What does American Samoa Code Annotated § 30.0502 cover?
Section 30.0502 ("Operations") is part of the American Samoa Code Annotated, the codified statutory law of American Samoa. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite American Samoa § 30.0502?
A common citation format is "American Samoa Code Annotated § 30.0502" (American Samoa). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of American Samoa law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the American Samoa official source linked on this page or consult a licensed American Samoa attorney.
How does American Samoa § 30.0502 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in American Samoa can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in American Samoa.