§ 59-13-122. Certificates of Membership
When a member of an association established without capital stock has paid the membership fee in full, the member shall receive a certificate of membership.
§ 59-13-107. Powers and Duties
Each association incorporated under this chapter shall have the following powers, to: Engage in activity in connection with the marketing or selling of the coal of its members or the sampling, storing, processing, permitting, reclamation, transporting of the coal or marketing of the derivatives thereof; or in any activity in connection with the purchase, hiring, […]
§ 59-13-108. Membership — Stock
Under the terms and conditions prescribed in the bylaws adopted by it, an association may admit as members (or issue common stock to) only persons engaged in the production of coal or its derivatives to be handled by or through the association. If a member of a nonstock association be other than a natural person, […]
§ 59-13-109. Articles of Incorporation — Directors — Stock
Each association formed under this chapter must prepare and file articles of incorporation, setting forth: The name of the association; The purpose for which it is formed; The place where its principal business will be transacted; The duration of the association, if other than perpetual. If the charter of any association organized under this chapter […]
§ 59-13-110. Stock — Common and Preferred
The capital stock may be divided into preferred and common stock. If so divided, the articles of incorporation must contain a statement of the number of shares of stock to which preference is granted and the number of shares of stock to which no preference is granted; and the nature and definite extent of the […]
§ 59-13-111. Articles of Incorporation — Subscription and Acknowledgment — Copies — Evidence
The articles must be subscribed by the incorporators and acknowledged; and when filed, such articles of incorporation or certified copies of such articles shall be received in all the courts of this state and other places as prima facie evidence of the due incorporation of such association.
§ 59-13-112. Amendment of Articles
An amendment must first be approved by two thirds (2/3) of the directors and then adopted by a vote representing a majority of all the members of the association. However, if at a meeting of the members of the association to which a proposed amendment has been submitted, a majority of the members are not […]
§ 59-13-113. Bylaws
Each association incorporated under this chapter must, within thirty (30) days after its incorporation, adopt for its government and management, a code of bylaws, not inconsistent with the powers granted by this chapter. A majority vote of the members or stockholders, or their written assent, is necessary to adopt such bylaws. Each association, under its […]
§ 59-13-104. Creation of Associations
Seven (7) or more persons, a majority of whom are residents of this state, engaged in the production of coal, may form a nonprofit, cooperative association, with or without capital stock, under this chapter.
§ 59-13-105. Purposes
An association may be organized to engage in any activity in connection with the marketing or selling of the coal of its members or with the sampling, storing, processing, permitting, reclamation, or transporting of the coal or its derivatives; or in connection with the manufacturing, selling, or supplying to its members of machinery, equipment, or […]