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MS HB914
Bill
Status
4/23/2014
Primary Sponsor
Bobby Howell
Click for details
AI Summary
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Allows cooperative marketing associations to buy, sell, and deal in agricultural products from nonmembers up to an amount equal in value to products handled for members.
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Removes the 99-year limitation on how long an association may exist, allowing perpetual existence if desired.
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Requires amendments to articles of association to be approved by two-thirds vote of the board of directors and then by majority vote of association members, with a process for recessing meetings and republishing notices if quorum is not met.
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Requires the board of directors to elect a chairman or board president and a chief operating officer in addition to other officers.
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Increases the filing fee for articles of association to $50 and eliminates the separate $10 fee for filing amendments to articles.
Legislative Description
Agricultural cooperative marketing associations; revise various provisions relating to articles of association for.
Last Action
Approved by Governor
4/23/2014