§ 17-10-121 — Marketing contracts generally

Wyoming § 17-10-121

• Jurisdiction: Wyoming
• Title 17: Corporations, Partnerships and Associations
• Ch. 10: COOPERATIVE MARKETING ASSOCIATIONS
• Art. 1: IN GENERAL

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(a) The association and its members may make and execute
marketing contracts, requiring the members to sell, for a period
of time, not over ten (10) years, 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. The contract may provide that the association
may sell or resell the products of its members, with or without
taking title thereto, and pay over to its members the resale
price, after deducting all necessary selling, overhead, and
other costs and expenses, if any; and other proper reserves; and
in interest not exceeding six percent (6%) per annum upon common
stock.
(b) The bylaws of the marketing contract may fix, as
liquidated damages, specified sums to be paid by the member or
stockholder to the association upon the breach by him of any
provision of the marketing contract regarding the sale or
delivery or withholding of products; and may further provide
that the member will pay all costs, premiums for bonds, expenses
or fees in case any action is brought upon the contract by the
association; and any such provision shall be valid and
enforceable in the courts of this state.
(c) In the event of any such breach or threatened breach
of such marketing contract by a member, the association shall be
entitled to an injunction to prevent the further breach of the
contract, and to a decree of specific performance thereof.
Pending the adjudication of such an action, and upon filing a
certified complaint, showing the breach or threatened breach,
and upon filing a sufficient bond, the association shall be
entitled to a temporary restraining order and preliminary
injunction against the member.