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Session Laws, 1922
Volume 563, Page 445   View pdf image (33K)
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ALBERT C. RITCHIE, GOVERNOR. 443

Section 474. Any association organized under this Act may
dissolve in the same manner as is provided for other corpora-
tions in this article.

Section 475. Each association incorporated under this act
shall have the following powers.

(a. ) To engage in any activity in connection with pro-
ducing, marketing, selling, preserving, drying, processing,
canning, packing, handling, storing or utilization of any agri-
cultural products of its members; or the manufacturing or
marketing of the by-products thereof; or in connection with
the purchase, hiring or use by its members of supplies, ma-
chinery, or equipment, or in the financing of such activities,
or in any one or more of the activities specified in this sub-
section.

(b. ) To borrow money and to make advances to members
upon products of members in the hands of the association.

(c. ) To act as agent or representative of any member or
members in any of the above mentioned activities.

(d) To purchase or otherwise acquire, and to hold, own and
exercise all rights of ownership in, and to sell, transfer, or
pledge shares of the capital stock or bonds of any corporation
or association organized under this Act.

(e) To establish reserves and to invest the funds thereof in
bonds or such other property as may be provided in the by-laws.

(f) To buy, hold and exercise all privileges of ownership,
over such real or personal property as may be necessary or
convenient for the conducting and operation of any of the
business of the association or incidental thereto.

(g) To sue and be sued, complain and defend in all courts.

(h) To do each and everything necessary suitable or pro-
per for the accomplishment of any one of the purposes or the
attainment of any one or more of the objects herein enumerated;
and to contract accordingly; and in addition to exercise and
posess all powers, rights and privileges necessary or incidental
to the purposes for which the association is organized or to
the activities in which it is engaged; and in addition any other
rights, powers and privileges granted by the laws of this State
to ordinary corporations, except such as are inconsistent with
the express provisions of this act; " and to do any such thing
anywhere.


 

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Session Laws, 1922
Volume 563, Page 445   View pdf image (33K)
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