§ 54235 Stock Payment And Voting Rights

• •You can't get a stock certificate until you've paid for it in full.
• •You can pay with a promise to pay later (like an IOU), but the company keeps the stock until you pay up.
• •Even if the company holds your stock as security, you can still vote with it.

You want to buy stock in a local farm co-op but don’t have all the money right now.

The co-op can let you pay with an IOU, but they’ll hold onto the stock until you pay in full. You can still vote on co-op decisions even while paying off your IOU.