|
U.S. Code as of:
01/03/05
Section 291. Authorization of associations; powers
Persons engaged in the production of agricultural products as
farmers, planters, ranchmen, dairymen, nut or fruit growers may act
together in associations, corporate or otherwise, with or without
capital stock, in collectively processing, preparing for market,
handling, and marketing in interstate and foreign commerce, such
products of persons so engaged. Such associations may have
marketing agencies in common; and such associations and their
members may make the necessary contracts and agreements to effect
such purposes: Provided, however, That such associations are
operated for the mutual benefit of the members thereof, as such
producers, and conform to one or both of the following
requirements:
First. That no member of the association is allowed more than one
vote because of the amount of stock or membership capital he may
own therein, or,
Second. That the association does not pay dividends on stock or
membership capital in excess of 8 per centum per annum.
And in any case to the following:
Third. That the association shall not deal in the products of
nonmembers to an amount greater in value than such as are handled
by it for members.
|
|