Legal Phases of Cooperative Associations |
From inside the book
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Page 21
... thereof are regarded as members . On the other hand , in some States , because of either con- stitutional or statutory provision , the holders of preferred stock are entitled to vote . In such States it may be found preferable to form a ...
... thereof are regarded as members . On the other hand , in some States , because of either con- stitutional or statutory provision , the holders of preferred stock are entitled to vote . In such States it may be found preferable to form a ...
Page 40
... thereof . " At least in cases tried in Federal courts , the fact that an association is acting ultra vires may adversely affect its rights . A cooperative livestock association transacted business with nonmembers in violation of its ...
... thereof . " At least in cases tried in Federal courts , the fact that an association is acting ultra vires may adversely affect its rights . A cooperative livestock association transacted business with nonmembers in violation of its ...
Page 44
... thereof , the number of members constituting a quorum , the qualifications , terms of office , and duties of directors and officers and their compensation , if any , and suitable penalties for vio- lation of the bylaws . A bylaw must be ...
... thereof , the number of members constituting a quorum , the qualifications , terms of office , and duties of directors and officers and their compensation , if any , and suitable penalties for vio- lation of the bylaws . A bylaw must be ...
Page 49
... thereof.1 Where the statute is silent as to the manner of adopting bylaws , it has been held that they may be adopted or modified either orally or in writing or by uniform usage and acquiescence.2 An invalid bylaw , as such , creates no ...
... thereof.1 Where the statute is silent as to the manner of adopting bylaws , it has been held that they may be adopted or modified either orally or in writing or by uniform usage and acquiescence.2 An invalid bylaw , as such , creates no ...
Page 52
... thereof at a time when the amount of its indebtedness exceeded that allowed by a Federal statute . In a suit brought on the notes it was held that the notes were enforceable against the bank . In this case , it was said , " We hold ...
... thereof at a time when the amount of its indebtedness exceeded that allowed by a Federal statute . In a suit brought on the notes it was held that the notes were enforceable against the bank . In this case , it was said , " We hold ...
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Common terms and phrases
agent agricultural amount articles of incorporation Ass'n asso associations formed authorized Bank basis board of directors Burley Tobacco Growers bylaws California capital stock Capper-Volstead Act certificates charter ciation Co-operative Association Colo Commissioner of Internal common law common stock Company cooperative association Cooperative Marketing Act cooperative statutes corporation Cotton Growers County Creamery creditors crop Dairy Dark Tobacco Growers deductions entitled ex rel exemption Farm Bureau Cotton Farmers Federal Federal Trade Commission Fruit Growers Grain Futures Act income taxes Internal Revenue Iowa Kansas Wheat Growers Kentucky liable liquidated damages marketing agreement Marketing Association marketing contract meeting membership Milk Producers Minn nonmembers nonstock officers operate organization patronage dividends patrons payment preferred stock profit provision purchase purpose restraint of trade revolving-fund South Carolina specific Stat statutory stockholders Sun-Maid Supreme Court thereof thereto tion Union United voting Wash
Popular passages
Page 228 - The farmers' cooperatives exempt from taxation to the extent provided in subsection (a) are farmers', fruit growers', or like associations organized and operated on a cooperative 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, on the basis of either the quantity or the value of the products furnished by them, or...
Page 189 - ... or to forbid or restrain individual members of such organizations from lawfully carrying out the legitimate objects thereof ; nor shall such organizations, or the members thereof, be held or construed to be illegal combinations or conspiracies in restraint of trade, under the antitrust laws.
Page 186 - Columbia, or in .restraint of trade or commerce between any such Territory and another, or between any such Territory or territories and any State or states or the District of Columbia, or with foreign nations, or between the District of Columbia and any State or states or foreign nations, is hereby declared illegal.
Page 191 - 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.
Page 228 - ... and equipment to them at actual cost, plus necessary expenses. 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 196 - 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; and second, that the association does not pay dividends on stock or membership capital in excess of 8 per centum per annum.
Page 288 - Such an association may market the products of nonmembers in an amount the value of which does not exceed the value of the products marketed for members, and may purchase supplies and equipment for nonmembers In an amount the value of which does not exceed...
Page 223 - Business" includes any activity engaged in by any person, or caused to be engaged in by him, with the object of gain, benefit, or advantage, either direct or indirect.
Page 197 - That if the Secretary of Agriculture shall have reason to believe that any such association monopolizes or restrains trade in Interstate or foreign commerce to such an extent that the price of any agricultural product is unduly enhanced by reason thereof...
Page 186 - Every contract, combination in the form of trust or otherwise, or conspiracy, in restraint of trade or commerce among the several States, or with foreign nations, is hereby declared to be illegal. Every person who shall make any such contract or engage in any such combination or conspiracy, shall be deemed guilty of a misdemeanor...