§ 70. Marketing contract. 1. The certificate of incorporation or the by-laws may obligate the members to sell all or any part of their specified commodities exclusively to or through the corporation or any facilities created by it, during any designated period of time, subject to the right of any member to be released at […]
§ 71. Purchasing business of other corporations or persons. Whenever a corporation shall purchase the business of another corporation or person, it may make payment wholly or partly by the issue of shares or other securities to an amount which at par value would equal the fair market value of the business so purchased; and […]
§ 72. Reserves, net margins, net retained proceeds, distributions, and patronage refunds. The directors shall periodically set aside reasonable sums for reserves. The net margins or net retained proceeds may, in the discretion of the directors, be distributed at least once every twelve months to members or patrons, by uniform distribution and calculated on such […]
§ 73. Misdemeanor to spread false reports about the finances or management thereof. Any person who maliciously and knowingly spreads false reports about the finances or management or activity of any cooperative corporation incorporated under or subject to this chapter or organized under a similar statute of another state, and operating in this state under […]
§ 74. Liability for damages for encouraging or permitting delivery of products in violation of marketing agreements. Any person, firm or corporation who solicits or persuades or aids or abets any member of any cooperative corporation incorporated under or subject to this chapter to breach his marketing contract with the corporation by accepting or receiving […]
§ 75. Audit and annual report. Immediately after the close of each fiscal year, every cooperative corporation shall cause an audit to be made of its operations for such fiscal year. A written report of the audit, including a statement of services rendered by the corporation, with total amount of business transacted, balance sheet, income […]
§ 76. Foreign corporations. Any cooperative corporation organized as such under the laws of another state, or any foreign corporation of any type or kind which has as its purpose or among its purposes the cooperative rendering of mutual help and services to its members and which would, if it were to be formed currently […]
§ 77. Annual license fee. 1. Each cooperative corporation organized, with or without capital stock, for the purpose of cooperative marketing of agricultural products or for the purpose of making loans to its members producing agricultural products or for the purpose of purchasing food products for sale to its members, such a purchasing cooperative corporation […]
