274.060. Powers of associations.

332 words·~2 min read·/mo/chapter-274/274-060

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

274.060. Powers of associations. — Each association incorporated under this chapter shall have the following powers:

(1)To engage in any activity in connection with the marketing, selling, preserving, harvesting, drying, processing, manufacturing, canning, packing, grading, storing, handling or utilization of any agricultural products produced or delivered to it by its members; the manufacturing or marketing of the by-products thereof; any activity in connection with the purchase, hiring or use by its members of supplies, machinery or equipment; in the financing of any such activities; or in any one or more of the activities specified in this section. The association shall do at least twenty-five percent of its business with its members;

(2)To borrow money without limitation as to amount of corporate indebtedness or liability; and to make advance payments and advances to members;

(3)To act as the agent or representative of any member or members in any of the above-mentioned activities;

(4)To buy, lease, 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 incidental thereto;

(5)To establish, secure, own and develop patents, trademarks and copyrights;

(6)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; 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 or any other rights, powers, and privileges granted by the laws of this state to ordinary corporations, except such as are inconsistent with the express provisions of this chapter.

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(RSMo 1939 § 14336, A.L. 1945 p. 78, A.L. 2001 S.B. 462)

Prior revision: 1929 § 12678