---
title: O.C.G.A. § 2-10-96. Use of preferred stock to purchase property interest.
collection: code
id: 2-10-96
cite_as: O.C.G.A. § 2-10-96 (2025)
canonical_url: https://georgiacommons.org/code/2-10-96
md_url: https://georgiacommons.org/code/2-10-96.md
text_url: https://georgiacommons.org/code/2-10-96/text
source_url: https://www.legis.ga.gov/api/document/docs/default-source/joint-features-document-library/t1-t2-t3-(v3)-2019-pdf.pdf?sfvrsn=6ea3b7a1_0#page=496
date: 2025
status: active
corpus_version: 2025-supplement-89aa39ab3c68
license: CC0-1.0
publisher: Georgia Commons, an independent project of Georgia Civic Data. Not the State of Georgia. Not legal advice.
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index: https://georgiacommons.org/code/index.md
version: the only printed version
in_force: true
current_through: Including Acts of the 2025 Regular Session of the General Assembly
heading_path: AGRICULTURE / MARKETING FACILITIES, ORGANIZATIONS, AND PROGRAMS / COOPERATIVE MARKETING ASSOCIATIONS
---

# O.C.G.A. § 2-10-96. Use of preferred stock to purchase property interest.

Whenever an association organized under this article with preferred capital stock desires to purchase the stock of any person, firm, corporation, or association or any property or property interest thereof, it may make the purchase, in whole or in part, by exchanging for the acquired interest shares of its preferred capital stock, in an amount which at par value would equal the fair market value of the stock or interest so purchased, as determined by the board of directors. The transfer to the association of the stock or interest so purchased shall be equivalent to payment in cash for the shares of stock issued.

## History

Ga. L. 1921, p. 139, § 16; Code 1933, § 65-216.