The Laws of Texas, 1929-1931 [Volume 27] Page: 25 of 1,943
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FORTY-FIRST LEGISLATURE-FOURTH CALLED SESSION. 13
non-members to an amount greater in value than such as are
handled by it for members; and (d) the term "person" shall include
individuals, firms, partnerships, corporations and associations.
Associations organized hereunder shall be deemed nonprofit,
inasmuch as they are organized not to make profits for
themselves, as such, or for their members, as such, but only for
their members as producers. This Act shall be referred to as
the "Co-operative Marketing Act."
SEC. 2. Article 5739 of the Revised Civil Statutes of 1925
is hereby amended so as to read as follows:
Article 5739. Who May Organize.-Five or more persons
engaged in the production of agricultural products or three or
more associations may form a non-profit co-operative association
with or without capital stock, under the provisions of this
SEC. 3. Article 5742 of the Revised Civil Statutes of 1925 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. No association, however, shall handle the agricultural
products of any non-member.
(b) To borrow money and make advances to members.
(c) To act as the agent or representatives 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 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 association or incidental thereto.
(g) To do each and everything necessary, suitable or proper
for the accomplishment of any one of the lrrposes or the
attainment of any 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 privilegs 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 Laws
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Gammel, Hans Peter Mareus Neilsen. The Laws of Texas, 1929-1931 [Volume 27], book, 1931; Austin, Texas. (texashistory.unt.edu/ark:/67531/metapth16362/m1/25/: accessed October 22, 2017), University of North Texas Libraries, The Portal to Texas History, texashistory.unt.edu; .