Arkansas Code Title 2, Subtitle 1, Chapter 2, Subchapter 4 - Marketing Associations
- § 2-2-401 - Title.
This subchapter shall be referred to as the "Cooperative Marketing Act".
- § 2-2-402 - Purpose.
The purpose of this subchapter is to: (1) Promote, foster, and encourage the intelligent and orderly marketing of agricultural products through cooperation and to...
- § 2-2-403 - Definitions.
(a) As used in this subchapter: (1) "Agricultural products" means horticultural, viticultural, forestry, dairy, livestock, poultry, bee, and farm and ranch products; (2) "Member"...
- § 2-2-404 - Who May Organize.
Five (5) or more persons engaged in the production of agricultural products may form a nonprofit cooperative association, with or without capital stock, under...
- § 2-2-405 - Reasons for Organizing.
An association may be organized to engage in any activity in connection with the marketing or selling of the agricultural products of its members...
- § 2-2-406 - Powers.
Each association incorporated under this subchapter shall have the following powers to: (1) (A) Engage in any activity in connection with the marketing, selling,...
- § 2-2-407 - Members.
(a) Under the terms and conditions prescribed in its bylaws, an association may admit as members, or issue common stock only to, persons engaged...
- § 2-2-408 - Articles of Incorporation.
(a) Each association formed under this subchapter must prepare and file articles of incorporation setting forth: (1) The name of the association; (2) The...
- § 2-2-409 - Amendments to Articles.
(a) The articles of incorporation may be altered or amended at any regular meeting or at any special meeting called for that purpose.(b) Amendments...
- § 2-2-410 - Filing Fees.
For filing articles of incorporation, an association organized under this subchapter shall pay five dollars ($5.00), and for filing an amendment to the articles,...
- § 2-2-411 - Bylaws.
(a) Within thirty (30) days after its incorporation, each association incorporated under this subchapter must adopt a code of bylaws, not inconsistent with the...
- § 2-2-412 - [Repealed.]
- § 2-2-413 - Regular and Special Meetings.
(a) In its bylaws, each association shall provide for one (1) or more regular meetings annually.(b) (1) The board of directors shall have the...
- § 2-2-414 - Board of Directors.
(a) (1) The affairs of the association shall be managed by a board of not less than five (5) directors elected by the members...
- § 2-2-415 - Officers.
(a) The board of directors shall elect from their number a president and one (1) or more vice presidents.(b) (1) They shall also elect...
- § 2-2-416 - Removal of Officer or Director.
(a) (1) Any member may bring charges against an officer or director by filing the charges in writing with the secretary of the association,...
- § 2-2-417 - Certificates of Membership or Stock Ownership.
(a) When a member of an association established without capital stock has paid his or her membership fee in full, he or she shall...
- § 2-2-418 - Matters Referred to Entire Membership.
Upon demand of one-third (1/3) of the entire board of directors, any matter that has been approved or passed by the board must be...
- § 2-2-419 - Marketing Contracts -- Remedies.
(a) (1) The association and its members may make and execute marketing contracts requiring the members to sell, for any period of time not...
- § 2-2-420 - Penalties for Inducing Breach of Contract.
Any person or corporation whose officers or employees knowingly induce or attempt to induce any member or stockholder of an association organized under this...
- § 2-2-421 - Exchange of Shares for Acquired Interests.
Whenever an association organized under this subchapter with preferred capital stock shall purchase the stock or any property or any interest in any property...
- § 2-2-422 - Annual Report.
Each association formed under this subchapter shall prepare and make out an annual report on forms furnished by the Secretary of State and the...
- § 2-2-423 - Interest in Other Corporations.
(a) An association may organize, form, operate, own, control, have an interest in, own stock of, or be a member of any other corporation,...
- § 2-2-424 - Agreements With Other Associations.
(a) Upon resolution adopted by its board of directors, any association may enter into all necessary and proper contracts and agreements and make all...
- § 2-2-425 - Existing Entities May Participate.
(a) (1) By a majority vote of its stockholders or members, any corporation or association organized under previous existing statutes may be brought under...
- § 2-2-426 - Arrangements Not in Restraint of Trade.
No association organized under this subchapter shall be deemed to be a combination in restraint of trade or an illegal monopoly or an attempt...
- § 2-2-427 - Tax Exemption.
Each association organized under this subchapter shall be exempt from all franchise or license taxes.
- § 2-2-428 - General Corporation Laws.
The provisions of the general corporation laws of this state and all powers and rights thereunder shall apply to the associations organized under this...
- § 2-2-429 - Conflicting Laws.
Any provisions of law which are in conflict with this subchapter shall not be construed as applying to the associations provided for in this
- § 2-2-430 - Conversion to Nonprofit Corporate Status.
(a) An association formed under this subchapter may elect to be governed by the provisions of the Arkansas Nonprofit Corporation Act of 1993, ยง...
Last modified: November 15, 2016