Examine new generation cooperatives and strategies to maximize farm and ranch income: hearing before the Committee on Agriculture, House of Representatives, One Hundred Eighth Congress, first session, October 16, 2003 |
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Common terms and phrases
2002 farm bill agricultural cooperatives agricultural products allocated allow areas association bank basis benefits Bob Goodlatte business structures Capper-Volstead Capper-Volstead Act CHALLENGES AND OPPORTUNITIES changes co-op CoBank financing commodity marketing acts competitive Congress cooperative business cooperative development cooperative law Cooperative Services cooperative statutes corporate cooperative dividends DORR economic eligible for CoBank entity equity capital ethanol Farm Credit Act Farm Credit System farmer cooperatives farmer-owned cooperatives farmers and ranchers Farmland Industries funding grant programs guarantee hearing help farmers House Agriculture Committee industry investors issues legislation lenders lending limited loan look marketplace median household income membership million Minnesota MORAN North Dakota operations OPPORTUNITIES FOR COOPERATIVES ownership patron members patronage percent processing producer-owned producers profits RBIC requirements Rochdale Principles rural America Rural Development Sam Graves Southern States Cooperative statement Stenholm Thank traditional cooperative U.S. Premium Beef USDA USPB value added value-added ventures Wyoming
Popular passages
Page 150 - Farmers', fruit growers', or like associations organized and operated on a co-operative basis (a) for the purpose of marketing the products of members or other producers, and turning back to them the proceeds of sales, less the necessary marketing expenses...
Page 144 - Exemption shall not be denied any such association because it has capital stock, if the dividend rate of such stock is fixed at not to exceed the legal rate of interest in the State of incorporation or 8 per centum per annum, whichever is greater, on the value of the consideration for which the stock was issued...
Page 154 - ... under the laws of any State or of the United States, a substantial portion of the business of which consists of receiving deposits or exercising fiduciary powers similar to those permitted to national banks under...
Page 150 - A farmers' cooperative organization described in subsection (b)(l) shall be exempt from taxation under this subtitle except as otherwise provided in part I of subchapter T (sec. 1381 and following) . Notwithstanding part I of subchapter T (sec. 1381 and following) , such an organization shall be considered an organization exempt from income taxes for purposes of any law which refers to organizations exempt from income taxes. (b) Applicable rules — (1) Exempt farmers
Page 154 - Corporation or association organized for the exclusive purpose of holding title to property, collecting income therefrom, and turning over the entire amount thereof, less expenses, to an organization which itself is exempt from the tax imposed by this title; or Thirteenth.
Page 154 - Except as hereinafter expressly provided, the provisions of this title shall not apply to any of the following classes of securities...
Page 6 - Congress, recognizing that a prosperous, productive agriculture is essential to a free nation and recognizing the growing need for credit in rural areas, that the farmer-owned cooperative Farm Credit System be designed to accomplish the objective of improving the income and well-being of American farmers and ranchers by furnishing sound, adequate, and constructive credit and closely related services to them, their cooperatives, and to selected farm-related businesses necessary for efficient farm...
Page 132 - Members and not shares of stock shall vote in electing officers and transacting any business of the association of whatsoever nature, but no proxies shall be allowed.
Page 150 - ... substantially all such stock (other than nonvoting preferred stock, the owners of which are not entitled or permitted to participate, directly or indirectly, in the profits of the association, upon dissolution or otherwise, beyond the fixed dividends...
Page 135 - A declaration that commodity marketing or the marketing contracts shall not be deemed to be a conspiracy or combination in restraint of trade, an attempt to lessen competition, or an attempt to fix prices arbitrarily in violation of any law of the state ("Acts of Kentucky 1922...