Non-voting shares for associate members bar management and voting rights, with banks subject to regulator instructions. The amendment permits issuance of non-voting shares to nominal or associate members that do not confer management rights, including voting, board ... Summary
Non-voting shares for associate members bar management and voting rights, with banks subject to regulator instructions.
The amendment permits issuance of non-voting shares to nominal or associate members that do not confer management rights, including voting, board election, or general body participation; issuance by multi-State co-operative banks must follow instructions of the banking regulator.
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