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State Law
Federal Law
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Texas Agriculture Code - Chapter 51 Farmers' Cooperative SocietiesLegal Research Home > Texas Lawyer > Agriculture Code > Texas Agriculture Code - Chapter 51 Farmers' Cooperative Societies In this chapter, "society" means a farmers' cooperative society incorporated under this chapter. Acts 1981, 67th Leg., p. 1097, ch. 388, § 1, eff. Sept. ... The general corporation laws of the state govern societies unless those laws conflict with this chapter. Acts 1981, 67th Leg., p. 1097, ch. 388, § ... A society may be organized to enable its members to cooperate with each other for the purposes authorized by this chapter. Acts 1981, 67th Leg., ... (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 ... A society shall have cash, notes acceptable to its directors, or other property, the combined value of which is $500 or more. Acts 1981, 67th ... A society shall confine its activities and business operation to the community in which it is located. Its activities and business operation may not extend ... (a) A society is a cooperative and a nonprofit corporation. (b) A society, on approval of its directors in accordance with its bylaws, may: (1) ... To be eligible to incorporate under this chapter, a person must be engaged in agricultural pursuits. Acts 1981, 67th Leg., p. 1098, ch. 388, § ... (a) The incorporators shall prepare articles of incorporation under the general corporation laws of the state and shall deliver the articles to the attorney general ... (a) Each member of a society shall sign the bylaws of the society. (b) A society shall obtain the approval of its bylaws and amendments ... (a) After filing and recording the articles of incorporation, an amendment to the articles, or bylaws, the secretary of state shall issue to a society ... (a) Membership in a society is limited to persons in the community in which the society is located who are engaged in agricultural pursuits. (b) ... Each member of a society has one vote in the management of the society. Acts 1981, 67th Leg., p. 1099, ch. 388, § 1, eff. ... (a) If a subscriber for membership certificates gives notes for the certificates, a society may not issue the certificates until the notes have been paid ... Notes given for membership certificates of a society are valid subscription contracts and are the property of the society. Acts 1981, 67th Leg., p. 1099, ... (a) Except as provided by this section, a member of a society is not liable to the society or its creditors for an amount that ... (a) A member of a society is entitled to withdraw from the society under rules prescribed by the society's bylaws. (b) If a member withdraws, ... (a) As prescribed by the society's bylaws, a society may suspend or expel a member for misconduct. (b) If a member is expelled, the society ... A person who is not engaged in agricultural pursuits may contribute to a society. The amount of the contribution may not exceed one-third of the ... (a) The attorney general shall prepare and file with the secretary of state forms for the following documents of a society: (1) articles of incorporation; ... Public money appropriated to a department of state government or a state institution may not be used in organizing a society. Acts 1981, 67th Leg., ... The name of a society must contain the words, "Farmers' Cooperative Society." Acts 1981, 67th Leg., p. 1100, ch. 388, § 1, eff. Sept. 1, ... (a) The secretary of state shall charge fees for filing articles of incorporation or amendments in accordance with this section. (b) The fee for filing ... (a) A society shall annually file with the secretary of state a report that shows the condition of its affairs. (b) The report shall be ... A society is not required to pay any annual franchise tax, except that a society is exempt from the franchise tax imposed by Chapter 171, ... Last modified: August 10, 2007 |