Texas Agriculture Code

§ 51.004 — POWERS

AG § 51.004Title 4. AGRICULTURAL ORGANIZATIONS · Ch. 51. FARMERS' COOPERATIVE SOCIETIES

Statute text

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(a)A society may:

(1)borrow money and discount notes, not to exceed a total amount equal to five times its working capital;

(2)lend money to its members, on terms and with security as provided by its bylaws;

(3)act as an agent for its members in selling the members' agricultural products and in purchasing machinery and supplies for its members, including fire, livestock, hail, cyclone, and storm insurance;

(4)own and operate machinery and tools necessary to produce, harvest and prepare for market farm and ranch products;

(5)exercise any of the powers granted to cooperative marketing associations under Section 52.013 of this code; and

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Legislative history

Acts 1981, 67th Leg., p. 1097, ch. 388, Sec. 1, eff. Sept. 1, 1981. Amended by Acts 1997, 75th Leg., ch. 904, Sec. 2, eff. Sept. 1, 1997.