California Statutes
§ 54262. — 54262. (Amended by Stats. 1997, Ch. 46, Sec. 2.)
California·Code FAC Food and Agricultural Code - FAC·Div. 20. DIVISION 20. PROCESSORS, STORERS, DEALERS, AND DISTRIBUTORS OF AGRICULTURAL PRODUCTS·Ch. 1. CHAPTER 1. Nonprofit Cooperative Associations·Art. 10. ARTICLE 10. Marketing Contracts
The contract may provide that the association may sell or resell any product that is delivered by its members, with or without taking title to that product, and pay over to its members, the resale price, after deducting all of the following:
(a)Necessary selling, overhead, and other costs and expenses.
(b)Proper reserves for retiring stock, if any.
(c)Dividends not exceeding 8 percent per annum upon stock or membership capital.
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California § 54262. (54262. (Amended by Stats. 1997, Ch. 46, Sec. 2.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Amended by Stats. 1997, Ch. 46, Sec. 2. Effective January 1, 1998.