§ 994. Powers
Each association incorporated under this subchapter shall have the following powers:
(1) In the case of a marketing cooperative, the power to engage in any activity in connection
with the purchasing, marketing, selling, preserving, harvesting, drying, processing,
manufacturing, canning, packing, grading, storing, handling, or utilization of any
agricultural or handcraft products or the manufacturing or marketing of the byproducts
thereof, any activity in connection with the purchase, hiring, or use by its members
of supplies, machinery or equipment, and in financing any of the aforementioned activities.
However, a marketing association shall not handle agricultural or handcraft products
of nonmembers to an extent greater in value than the products of its own members that
it handles. In the case of a consumers’ cooperative, the power to engage in any one
or more lawful mode or modes of acquiring, producing, building, operating, manufacturing,
furnishing, exchanging, or distributing any type of property, commodities, goods,
or services for the primary and mutual benefit of the patrons of the association,
or their patrons, if any, as ultimate consumers. In the case of a railroad cooperative,
to engage in any activity in connection with the organization, acquisition, and operation
of a subsidiary transportation business, whether by means of railroad, truck, water
carrier, air, or other.
(2) To have perpetual succession in its corporate name unless incorporated or formed for
a limited term, or dissolved as provided by law.
(3) To borrow money without limitations as to amount of corporate indebtedness or liability.
(4) To make advance payments, and advances to members.
(5) To act as the agent or representative of any member or members in any of the above
mentioned activities.
(6) To acquire, to exercise all rights of ownership or control in, and to sell, transfer,
or pledge, or guarantee the payment of dividends or interest on, or the retirement
or redemption of, shares of the capital stock or bonds of any corporation or association
engaged in any related activity or in the warehousing, handling, marketing, sale,
or distribution of any of the products, property, commodities, or goods handled by
the association.
(7) To establish reserves and invest the funds thereof in bonds or in such other property
as may be provided in the bylaws.
(8) To buy, hold, and exercise all privileges of ownership over such real or personal
property as may be necessary or convenient for the conduct and operation of any of
the business of the association, or business incidental thereto.
(9) To establish, secure, own, and develop patents, trademarks, trade names, and copyrights.
(10) To do everything necessary, suitable, or proper for the accomplishment of any of the
purposes or the attainment of any of the objects herein enumerated, or conducive to
or expedient for the interest or benefit of the association, and to contract accordingly;
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 corporations organized under the general laws of this
State, except such as are inconsistent with the express provisions of this subchapter;
and to do any such thing anywhere. (Amended 1973, No. 90, § 2; 2025, No. 10, § 3, eff. July 1, 2025.)