Part 5 — Capital Structure Division 1 Membership Capital
118 Payment for investment shares
fully paid in money, or past service or any other thing that is not
less in value than the money that the cooperative would have
received if the investment share had been issued for money, and
neither a promissory note nor a promise to pay made by a person to
whom the investment shares are to be issued is acceptable in
payment of an investment share.
(2) Membership shares may be paid for in money, or past service
or any other thing that is not less in value than the money that the
cooperative would have received if the membership share had been
issued for money.