SPIRO T. AGNEW, Governor                      1373

(b)    To borrow money and to give its notes, bonds or other obliga-
tions therefor and secure the payment thereof in any manner con-
sistent with law; 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 invest surplus funds in obligations of the United States
only; and 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 cooperative, as defined in
this subtitle, or of any corporation or association engaged in any
related activity, including financing the activities of such cooperatives
[organized under this subtitle].

(e)     To establish [reserves and to invest the funds thereof in
bonds or such other property as may be provided in the by-laws.]
and accumulate reserves and surplus to capital, and such other
funds as may be authorized by the articles of incorporation or
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 associa-
tion or incidental thereto.

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

(h) To issue shares of its stock of any class authorized by the
charter or certificates of indebtedness; to provide by contract with
its stockholders, members or patrons, for retaining out of any money
due from the association to said stockholders, members or patrons
any amount necessary to pay dividends on preferred stock or interest
on certificates of indebtedness and to retire such stock or certificates
of indebtedness.

(i) To issue to each patron a certificate or other evidence of such
patron's equity in any fund, capital investment or other assets of the
association. Such certificate or other evidence of such equity may be
transferred only to the association, or to such other purchaser as may
by approved by the board of directors, upon such terms and condi-
tions as shall be provided in the by-laws and printed on such cer-
tificate or other evidence of such equity.

[(h)] (j) To do each and every thing necessary, suitable or
proper 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 possess 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 subtitle;
and to do any such thing anywhere.

358. Contracts with other Associations; Marketing Agencies.

(a) Any association incorporated under this subtitle, may upon
resolution adopted by its board of directors, enter into all necessary
and proper contracts and agreements with any other corporation,