Definition of a Cooperative Association: Hearing July 21, 1939

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U.S. Government Printing Office, 1939 - 257 pages
 

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Page 5 - First. That no member of the association 'is allowed more than one vote because of the amount of stock or membership capital he may own therein, or, "Second. That the association does not pay dividends on stock or membership capital in excess of 8 per centum per annum.
Page 5 - Third. That the association shall not deal in farm products, farm supplies, and farm business services with or for nonmembers in an amount greater in value than the total amount of such business transacted by it with or for members. All business transacted by any cooperative association for or on behalf of the United States or any agency or instrumentality thereof shall be disregarded in determining the volume of member and nonmember business transacted by such association.
Page 6 - cooperative association" means any association in which farmers act together in processing, preparing for market, handling, and/or marketing the farm products of persons so engaged, and also means any association in which farmers act together in purchasing, testing, grading, processing, distributing, and/or furnishing farm supplies and/or farm business services: Provided, however, That such associations are operated for the mutual benefit of the members thereof as such producers or purchasers and...
Page 36 - Under the terms and conditions prescribed in the by-laws adopted by it, an association may admit as members, or issue common stock to, only persons engaged in the production of the agricultural products to be handled by or through the association...
Page 5 - UNITED STATES SENATE, COMMITTEE ON AGRICULTURE AND FORESTRY, Washington, DC The committee met, pursuant to call, at 10 am in the committee room, 324, Senate Office Building, Senator Ellison D. Smith (chairman) presiding.
Page 6 - As used In this Act, the term "cooperative association" means any association In which farmers act together in processing, preparing for market, handling, and/or marketing the farm products of persons so engaged, and also means any association In which farmers act together In purchasing, testing, grading, processing, distributing, and/or furnishing farm supplies and/or farm business...
Page 7 - June 30, 1939, that there would be no objection on the part of that office to the submission of this report to Congress, with the understanding that no commitment would thereby be made as to the relationship of this legislative proposal to the program of the President.
Page 31 - Members. — (a) Under the terms and conditions prescribed in its by-laws, an association may admit as members, or issue common stock, only to persons engaged in the production of the agricultural products to be handled by or through the association...
Page 6 - THOMAS, Chairman, Senate Committee on Agriculture and Forestry, United States Senate. DEAR SENATOR THOMAS: Reference is made to your request for a report on S.
Page 5 - ... as defined in the Agricultural Marketing Act, as amended. As there defined (12 USC 1141J), the term "cooperative association" means an association in which farmers act together in marketing their farm products, purchasing farm supplies, or furnishing farm business services, with a proviso that the association is operated for the mutual benefit of the members thereof as such producers or purchasers. The association must also conform to certain other requirements which are not involved in the present...