The Laws of Texas, 1929-1931 [Volume 27] Page: 158 of 1,943
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146 GENERAL LAWS.
This Act shall be referred to as the "Co-operative Marketing
Act."
SEC. 2. Article 5742 of the Revised Civil Statutes of 1925,
as amended by Senate Bill 84, Acts of the Fourth Called Session
of the Forty-first Legislature, filed in the office of the Secretary
of State February 17, 1930, is hereby amended so as to
read as follows:
"Article 5742. Powers.-Each association incorporated under
this Chapter shall have the following powers:
(a) To engage in any activity in connection with the marketing,
selling, harvesting, preserving, drying, processing, canning,
packing, storing, handling or utilization of any agricultural
products produced or delivered to it by 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, machinery or equipment, or in the financing of any
such activities; or in any one or more of the activities specified
in this Article.
(b) To borrow money and make advance to members.
(c) To act as the 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 engaged in any related activity or in the handling
or marketing of any of the products handled by the association.
(e) To establish reserves and to invest the funds thereof in
bonds or such other property as may be provided in the bylaws.
(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 do each and everything 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;
or conducive to or expedient for the interest or benefit of the
association; 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 tre inconsistent
with the express provisions of this Act; and to do any
such thing anywhere.
(h) To act as a stabilization corporation when recognized as
such under the provisions of the Agricultural Marketing Act
of the Congress of the United States, approved June 15, 1929,
and when so acting to have power to deal in the products of
non-members without regard to the provisions of Article 5740
supra.
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1929-1931 [Volume 27], book, 1931; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth16362/m1/158/: accessed April 24, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .