§ 3:125 — Powers

Louisiana § 3:125

• Jurisdiction: Louisiana
• Title 3: Agriculture and Forestry

Text

§125. Powers
Each association incorporated under this Part shall have the following powers:
(1) To engage in any activity in connection with the marketing, selling, harvesting,
preserving, drying, processing, manufacturing, canning, packing, grading, storing, handling,
or utilization of any agricultural product produced or delivered to it by its members; or the
manufacturing or marketing of the by-products thereof; or in connection with the purchase,
hiring, or use by its members of supplies, machinery, or equipment, or in the financing of any
such activities; or the representation of the interest of its members; or any lawful activity for
which any corporation may be formed under the laws of the state of Louisiana. No
association shall handle the agricultural products of any non-member, except as necessary
and incidental to the handling of the products of the members; and in any case, the value of
the products of nonmembers handled, shall not exceed the value of the products handled by
the association for its members.
(2) To borrow money and to make advances to members.
(3) To act as agent or representative of any member in any of the above mentioned
activities.
(4) To purchase or otherwise acquire, and to hold, own, sell, transfer, pledge, or
guarantee the payment of dividends or interest on, or the retirement or redemption of, shares
of the capital stock or bonds of any corporation or association engaged in any related activity
or in the warehousing, handling, or marketing of any of the products handled by the
association.
(5) To establish reserves and to invest the funds thereof in bonds or such other
property as may be provided in the by-laws.
(6) To buy, hold, and exercise all privileges of ownership over such real or personal
property as may be necessary or convenient for the conducting and operating of any of the
business of the association or incidental thereto.
(7) To do each and everything necessary or proper for the accomplishment of any of
the purposes or the attainment of any of the objects enumerated in this Part; or conducive to
or expedient for the interest or benefit of the association; and in addition to exercise and
possess all powers, rights and privileges necessary or incidental to the purposes for which
the association is organized, or to the activities in which it is engaged; and to do any such
thing anywhere.
(8) To sue and be sued, prosecute and be prosecuted before any court; and to
contract.
(9) To have perpetual existence, unless a limited period of duration is stated in its
articles of association.

Legislative History

Acts 2001, No. 41, §1; Acts 2017, No. 65, §1.