17-10-101. Purpose of chapter. In order to promote, foster, and encourage the intelligent and orderly marketing of agricultural products through cooperation, and to eliminate speculation and waste; and to make the distribution of agricultural products as direct as can be efficiently done between producer and consumer; and to stabilize the marketing problems of agricultural products, […]
17-10-102. Definitions; associations deemed nonprofit; short title. (a) The term “agricultural products” shall include horticultural, viticultural, forestry, dairy, livestock, poultry, bee, and any farm products. (b) The term “member” shall include actual members of associations without capital stock and holders of common stock in associations organized with capital stock. (c) The term “association” or “cooperative” […]
17-10-103. Formation. Five (5) or more persons, qualified electors of the state of Wyoming, engaged in the production of agricultural products may form a nonprofit, cooperative association, with or without capital stock, under the provisions of this act.
17-10-104. Purposes. An association may be organized to engage in any activity in connection with the marketing or selling of the agricultural products of its members, or with the harvesting, preserving, drying, processing, canning, packing, storing, handling, shipping, or utilization thereof, of the manufacturing or marketing of the by-products thereof; or in connection with the […]
17-10-105. Certificate of incorporation; execution and contents. (a) The incorporators shall sign and acknowledge, in the manner required for the signing and acknowledgment of deeds, a certificate of incorporation showing the following facts: (i) The name of the cooperative; (ii) The purpose of the cooperative; (iii)(A) If organized without capital stock, whether the property rights […]
17-10-106. Certificate of incorporation; filing; fees; commencement of corporate existence. The certificate of incorporation shall be filed in the office of the secretary of state. The fees for filing or recording such certificate shall be the same as in the case of corporations formed under the general corporation laws. The corporation shall come into existence […]
17-10-107. Certificate of incorporation; amendment. The certificate of incorporation of any association organized under this act or which may elect to come under the provisions of this act may be amended in the following manner: the board of directors, by majority vote of its members, may pass a resolution setting forth the full text of […]
17-10-108. Applicability of general corporation law relative to notice for service of process. Public notice of the filing of the original certificate and of all amended certificates shall be given in like manner as that required in the case of corporations formed under the general corporation law. The corporation shall also designate an agent and […]
17-10-109. Powers. (a) Each cooperative formed under the provisions of this article shall have power: (i) To have succession by its corporate name for the period limited in its certificate; (ii) To sue and be sued, complain and defend in any court; (iii) To establish and use a common seal and alter the same; (iv) […]
17-10-110. Members and stock generally. (a) When a member of an association established without capital stock has paid his membership fee in full, he shall receive a certificate of membership. (b) No association shall issue stock to a member until it has been fully paid for. The promissory notes of the members may be accepted […]
17-10-111. Management by board of directors; composition and election of board; terms of office. The stock, property and concerns of such corporation shall be managed by the board of directors who shall be respectively members, stockholders or subscribers for stock and who shall, after the first corporate year, be annually elected by the members or […]
17-10-112. Regular meetings; calling of special meetings; notice of meetings. In its bylaws each association shall provide for one (1) or more regular meetings annually. The board of directors shall have the right to call a special meeting at any time, and ten percent (10%) of the members or stockholders may file a petition stating […]
17-10-113. Removal of officers or directors. (a) Any member may bring charges against an officer or director by filing them in writing with the secretary of the association, together with a petition signed by ten percent (10%) of the members, requesting the removal of the officer or director in question. The removal shall be voted […]
17-10-114. Liability of directors for excess of indebtedness over assets or capital. If the indebtedness of such corporation shall at any time exceed the amount of the assets of a nonstock corporation or the amount of subscribed capital stock of a stock company, the directors assenting thereto shall be personally and individually liable for such […]
17-10-115. Apportionment of net profits by directors of corporation with capital stock. (a) The directors in any cooperative association organized under this article may set aside a portion of net income to create or maintain a capital reserve as they see fit or may set aside none, in their discretion. In addition to a capital […]
17-10-117. Sales contracts with members. Any association organized under this act, as agent to sell the products of members or purchase supplies for members may operate upon a nonprofit basis by contracting to pay the members, for products sold by said members to or through the association, the resale price minus a uniform charge to […]
17-10-118. Liability of directors upon payment of dividends or appointment when corporation insolvent; exception. If the directors of any corporation organized under this act shall declare and pay any dividend or apportionment of earnings or profits to members or nonmembers when the corporation is insolvent or when it would be rendered insolvent by such payment, […]
17-10-119. Preparation and disposition of financial statement. At the time of each dividend or apportionment of profits, and at least once in every year, the directors shall cause to be prepared a statement showing the financial condition of the corporation. This statement shall be in such form as shall fully exhibit the assets and liabilities […]
17-10-121. Marketing contracts generally. (a) The association and its members may make and execute marketing contracts, requiring the members to sell, for a period of time, not over ten (10) years, all or any specified part of their agricultural products or specified commodities exclusively to or through the association or any facilities to be created […]
17-10-122. Inducing breach of marketing contract or spreading false reports of finances or management; penalty. Any person who, or any corporation whose officers or employees knowingly induces or attempts to induce any member or stockholder of an association organized hereunder to breach his marketing contract with the association, or who maliciously and knowingly spreads false […]
