[§421C-34] Use of name "cooperative"; penalty.
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/hi/421c-34A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
[§421C-34] Use of name "cooperative"; penalty.
(a)Only
(1)associations organized hereunder,
(2)groups organized on a cooperative basis under this or any other law of this State, and
(3)foreign corporations authorized to do business in this State on a cooperative basis under this or any other law of this State, shall be entitled to use the term "cooperative" or any abbreviation or derivation thereof, as part of their business name, or to represent themselves, in their advertising or otherwise, as conducting business on a cooperative basis as defined in this chapter, notwithstanding section 421-5.
(b)Any person, firm, or corporation violating this section shall be punished by a fine of not more than $1,000, and the attorney general or any aggrieved individual, association, or group organized on a cooperative basis under this or any other law of this State may sue to enjoin an alleged violation of this section. [L 1982, c 97, pt of §2]