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New York Cooperative Corporations Law Section 112 - Incorporation.

Legal Research Home > New York Lawyer > Cooperative Corporations > New York Cooperative Corporations Law Section 112 - Incorporation.

    § 112. Incorporation. Five or more producers of agricultural products
  may form a cooperative agricultural corporation with or without  capital
  stock,  under  this  article.  If  the  principal  activities  of such a
  corporation are connected with the marketing,  processing,  manufacture,
  sale  or other dispositions of agricultural products, agricultural waste
  product, or agricultural compost including the capture  of  methane  and
  other  gases for the generation and use or sale of energy, as defined in
  section 1-103 of  the  energy  law,  it  may  be  termed  a  cooperative
  marketing  corporation  and  incorporated  as  such.  If  its  principal
  activities  relate  to  the  purchase  of  supplies  for  producers   of
  agricultural  products,  it  may  be  termed  a  cooperative  purchasing
  association and  incorporated  as  such,  but  in  either  case  such  a
  corporation  may  engage in both such lines of activity. Nothing in this
  section or article shall be deemed to prohibit the  incorporation  of  a
  cooperative  corporation under article two of this chapter or affect the
  existing powers of  any  existing  cooperative  corporation  not  within
  section one hundred eleven of this article.

Last modified: August 10, 2006