§ 112 — Incorporation

New York § 112

• Jurisdiction: New York
• Law CCO: Cooperative Corporations
• Art. 6: Agricultural Cooperative Corporation

Text

§ 112. Incorporation. Five or more producers of agricultural products\nmay form a cooperative agricultural corporation with or without capital\nstock, under this article. If the principal activities of such a\ncorporation are connected with the marketing, processing, manufacture,\nsale or other dispositions of agricultural products, agricultural waste\nproduct, or agricultural compost including the capture of methane and\nother gases for the generation and use or sale of energy, as defined in\nsection 1-103 of the energy law, it may be termed a cooperative\nmarketing corporation and incorporated as such. If its principal\nactivities relate to the purchase of supplies for producers of\nagricultural products, it may be termed a cooperative purchasing\nassociation and incorporated as such, but in either case such a\ncorporation may engage in both such lines of activity. Nothing in this\nsection or article shall be deemed to prohibit the incorporation of a\ncooperative corporation under article two of this chapter or affect the\nexisting powers of any existing cooperative corporation not within\nsection one hundred eleven of this article.\n