Texas Business Organizations Code - Section 2.110. Powers Of Cooperative Association
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§ 2.110. POWERS OF COOPERATIVE ASSOCIATION. (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
(5) deliver money to a scholarship fund for rural
students.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 2.103 2.104 2.105 2.106 2.107 2.108 2.109 2.110 2.111 2.112 2.113 2.114 3.001 3.002 3.003
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Last modified: August 10, 2007
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