(a) The purposes of this subchapter are to provide for: (1) The formation and operation of agricultural cooperative associations; and (2) The rights, powers, liabilities, and duties of cooperative associations. (b) Associations organized under this subchapter shall be deemed to be nonprofit, inasmuch as they are not organized for the purpose of making profits for […]
As used in this subchapter, unless the context otherwise requires: (1) “Agricultural products” means horticultural, viticultural, forestry, dairy, livestock, poultry, bee, and any other farm, ranch, plantation, and range products; (2) “Association” means any association organized under this subchapter; (3) “Member” means a member of record as determined under the articles of association and bylaws […]
(a) Any provisions of law which otherwise would be in conflict with this subchapter shall not be construed as applying to an association provided for in this subchapter. (b) No provision of law shall be deemed to be repealed by this subchapter. (c) This subchapter shall not affect the provisions of the Cooperative Marketing Act, […]
Any number of persons, not less than five (5), who are engaged in the production of agricultural commodities may form a cooperative association with or without capital stock under the provisions of this subchapter.
An association may be organized to engage in any agricultural or related activity, including, but without limitation, any activity in connection with the producing, marketing, selling, harvesting, dairying, preserving, drying, processing, canning, packing, milling, ginning, compressing, storing, transporting, handling, or utilization of any agricultural or forestry products produced by it or delivered to it by […]
Each association incorporated under this subchapter shall have the following powers: (1) To engage in any activity in connection with any agricultural or related activity, including, but without limitation, any activity in connection with the producing, marketing, selling, harvesting, dairying, preserving, drying, processing, canning, packing, milling, ginning, compressing, storing, transporting, handling, or utilization of any […]
(a) (1) Under the terms and conditions prescribed in its bylaws, an association formed under this subchapter may admit any persons as members who are engaged in the production of agricultural commodities, including the lessees and tenants of lands used for production of agricultural commodities and lessors and landlords who receive as rent all or […]
(a) Each association formed under this subchapter must prepare and file articles of association, setting forth: (1) The name of the association; (2) The purposes for which it is formed; (3) The place where its principal business will be transacted, which shall be its domicile; (4) The term for which it is to exist, which […]
(a) The articles of association may be altered or amended at any regular or special meeting of the stockholders or members called for that purpose. (b) Amendments to the articles of association, when so adopted, shall be certified by the president and secretary of the association and shall be filed with the Secretary of State.
(a) (1) Each association incorporated under this subchapter must adopt for its government and management a code of bylaws not inconsistent with the articles of association or the powers granted in this subchapter. (2) A majority vote of the incorporators and members or stockholders or their written assent is necessary to adopt the bylaws. (3) […]
(a) In its bylaws, each association shall provide for one (1) or more regular meetings annually. (b) (1) The board of directors shall have the right to call a special meeting at any time. Members or stockholders holding ten percent (10%) of the voting power may file a petition with the chair of the board […]
(a) (1) The affairs of the association shall be managed by a board of not less than five (5) directors. (2) (A) (i) The bylaws may provide that the territory in which the association has members shall be divided into districts and that the directors shall be elected according to the districts. (ii) In such […]
(a) The board of directors shall elect a president, one (1) or more vice presidents, a secretary, and a treasurer, and they may combine the two (2) latter officers and designate the combined office as secretary-treasurer. (b) (1) The treasurer may be a bank or any depository, and as such shall not be considered as […]
(a) When a member of an association established without capital stock has paid his or her membership fee in full, he or she shall receive a certificate of membership. (b) Except for debts lawfully contracted between the member and the association, no member shall be liable for the debts of the association to an amount […]
Upon demand of one-third (1/3) of the entire board of directors, any matter that has been approved or passed by the board must be referred to the entire membership or the stockholders for decision at the next special or regular meeting. A special meeting may be called for that purpose.
(a) (1) Upon resolution adopted by its board of directors, any association may enter into all necessary and proper contracts and agreements and make all necessary and proper stipulations, agreements, contracts, and arrangements with its members, other persons, cooperatives, corporations, or associations formed in this or any other state for the cooperative and more economical […]
(a) (1) The bylaws or the marketing or participation contract of any association existing under this subchapter may fix specific sums as liquidated damages to be paid by the member or stockholder to the association upon the breach or threatened breach by him or her of any provision of the participation agreement or upon the […]
Any person or any corporation whose officers or employees knowingly induce or attempt to induce any person to breach his or her marketing or participation contract with an association shall be guilty of a violation and upon conviction shall be subject to a fine of not less than one hundred dollars ($100) nor more than […]
The provisions of the general corporation laws of this state, and all powers and rights thereunder, shall apply to the associations organized under this subchapter, except where the provisions are in conflict with or inconsistent with the express provisions of this subchapter.
An association organized or existing under this subchapter may organize, form, operate, own, control, have an interest in, own stock of, or be a member of any corporation or association, with or without capital stock, engaged in any of the activities authorized under this subchapter, whether formed under this subchapter or any other law of […]
