§ 24.36.390. Power of association to form, control, own stock in or be member of another corporation or association -- Warehouse receipts
An association may organize, form, operate, own, control, have an interest in, own stock of, or be a member of any other corporation or corporations, with or without capital stock and engaged in preserving, drying, processing, canning, packing, storing, handling, shipping, utilizing, manufacturing, marketing, or selling of the fishery products handled by the association, or the byproducts thereof.
If such corporations are warehousing corporations, they may issue legal warehouse receipts to the association against the commodities delivered by it, or to any other person and such legal warehouse receipts shall be considered as adequate collateral to the extent of the usual and current value of the commodity represented thereby. In case such warehouse is licensed or licensed and bonded under the laws of this state or the United States, its warehouse receipt delivered to the association on commodities of the association or its members, or delivered by the association or its members, shall not be challenged or discriminated against because of ownership or control, wholly or in part, by the association.
[1959 c 312 § 39.]
Sections: Previous 24.36.320 24.36.330 24.36.340 24.36.350 24.36.360 24.36.370 24.36.380 24.36.390 24.36.400 24.36.410 24.36.420 24.36.430 24.36.440 24.36.450 24.36.460 NextLast modified: April 7, 2009