Texas Business Organizations Code

§ 2.110 — POWERS OF COOPERATIVE ASSOCIATION

BO § 2.110Title 1. GENERAL PROVISIONS · Ch. 2. PURPOSES AND POWER OF DOMESTIC ENTITY · Art. B. POWERS OF DOMESTIC ENTITY

Statute text

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(a)Except as provided by Chapter 251, a cooperative association may exercise the same powers and privileges and is subject to the same duties, restrictions, and liabilities as a nonprofit corporation.

(b)A cooperative association may:

(1)own and hold membership in other associations or corporations;

(2)own and hold share capital of other associations or corporations;

(3)own and exercise ownership rights in bonds or other obligations;

(4)make agreements of mutual aid or federation with other associations, other groups organized on a cooperative basis, or other nonprofit groups; and

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Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.