§ 8541 — Purchases; sales; contracts with stockholders and patrons

Delaware § 8541

• Jurisdiction: Delaware
• Title: 3
• Part: Cooperative Agricultural Associations or Corporations
• Ch. 85: CORPORATION LAW FOR COOPERATIVE AGRICULTURAL ASSOCIATIONS
• Subch.: Marketing Contracts; Actions; Restraint of Trade and Monopoly

Text

An association may engage in buying and selling agricultural products and supplies and take title thereto. An association may make and execute contracts with its stockholders and other patrons requiring them to sell all or any specified part of their agricultural products or specified commodities exclusively to or through the association or any facilities to be created by the association. An association shall be granted by any such contract the rights which its members individually have, arising out of the production, sale, handling or delivery of products or commodities covered by the contract. The contract shall specify a reasonable period in each year during which the association or any stockholder or patron so contracting with the association may terminate the contract. The association, as agent for a stockholder or other patron, may buy agricultural supplies for him or her and sell his or her agricultural or other kindred products.

Legislative History

41 Del. Laws, c. 132, § 10 ; 3 Del. C. 1953, § 8541; 70 Del. Laws, c. 186, § 1