What is the name of your state (only U.S. law)? I am from Pennsylvainia. I am currently involoved with a gun club that is incorporated as a non profit but we issue shares of stock in certificate form to the members when they first Join the club.After becomming a member we also get more shares for the dues we pay each year.We dont get these shares in a certificate form (is this legal?). Now we are trying to convert to a for profit co. and we need to know if any or all of these shares are any good? Everthing I read says non profit companies can not issue shares. Is this correct? We also have in the bylaws that is you stop paying dues you lose any and all stock you may hace aquired. Is this leagal to do?
Please help with my gun club nightmares**************..
Please help with my gun club nightmares**************..