S.C. Code § 33-47-10
Short title
This chapter shall be referred to as the "Cooperative Marketing Act."
South Carolina Code Title 33, Chapter 47 — Marketing Cooperative Associations
South Carolina · statute · S.C. Code tit. 33, ch. 47 · 47 active provisions
Provisions
S.C. Code § 33-47-20
Definitions
As used in this chapter: (1) The term "agricultural products" shall include horticultural, viticultural, forestry, dairy, livestock, poultry, bee and any other farm products; (2) The term "member" shall include actual members of associations without capital stock and holders of common stock in associations organized wi…
S.C. Code § 33-47-30
Declaration of purpose
In order to promote, foster and encourage the intelligent and orderly marketing of agricultural products through cooperating, to eliminate speculation and waste, to make the distribution of agricultural products as direct as can be efficiently done between producer and consumer and to stabilize the marketing problems o…
S.C. Code § 33-47-40
Applicability of general corporation laws
The provisions of the general corporation laws of this State, and all powers and rights thereunder, shall apply to and be conferred upon the associations organized hereunder, except when such provisions are in conflict with, or inconsistent with, the express provisions of this chapter.
S.C. Code § 33-47-50
Associations not deemed illegal combinations in restraint of trade
No association organized hereunder shall be deemed to be a combination in restraint of trade or an illegal monopoly or an attempt to lessen competition or fix prices arbitrarily. Nor shall the marketing contracts or agreements between the association and its members or any agreement authorized in this chapter be consid…
S.C. Code § 33-47-60
Marketing information available from Clemson University
Every group of persons contemplating the organization of an association under this chapter is urged to communicate with the director of the extension service of Clemson University who will inform it of whatever a survey of the marketing conditions affecting the commodities to be handled by the proposed association indi…
S.C. Code § 33-47-70
Organization of association
Five or more persons engaged in the production of agricultural products may form a nonprofit cooperative association with or without capital stock under the provisions of this chapter.
S.C. Code § 33-47-80
Purposes for which associations may be formed
An association may be organized to engage in any activity in connection with: (1) The producing, marketing or selling of the agricultural products of its members; (2) The harvesting, preserving, drying, processing, canning, packing, storing, handling, shipping or utilization thereof; (3) The manufacturing or marketing…
S.C. Code § 33-47-90
Adoption of chapter by corporations or associations already formed
Any corporation or association organized under previously existing statutes may by a majority vote of its stockholders or members be brought under the provisions of this chapter by limiting its membership and adopting the other restrictions as provided herein. It shall make out in duplicate a statement signed and sworn…
S.C. Code § 33-47-100
Participation of associations in other associations
An association may organize, form, operate, own, control, have an interest in, own stock of or be a member of any other corporation with or without capital stock and engaged in preserving, drying, processing, canning, storing, handling, shipping, utilizing, manufacturing, marketing or selling the agricultural products…
S.C. Code § 33-47-110
Annual reports
Each association formed under this chapter shall prepare and make out an annual report on forms furnished by the director of the State extension service of Clemson University containing: (1) The name of the association; (2) Its principal place of business; and (3) A general statement of its business operations during t…
S.C. Code § 33-47-120
Annual license fee; exemption from franchise and license tax
Each association organized hereunder and all production credit associations organized under the act of Congress known as the Farm Credit Act of 1933 shall pay an annual license fee of ten dollars but shall be exempt from all franchise or license taxes.
S.C. Code § 33-47-210
Articles of incorporation
Each association formed under this chapter must prepare and file articles of incorporation setting forth: (1) The name of the association; (2) The purpose for which it is formed; (3) The place where its principal business will be transacted; (4) The term for which it is to exist, not exceeding fifty years; (5) The name…
S.C. Code § 33-47-215
Reinstatement of a marketing cooperative association
(A) An association whose term of existence has expired may apply to the Secretary of State for reinstatement within two years after the effective date of expiration. The application must: (1) recite the name of the association and the effective date of its expiration; and (2) include revised articles of incorporation w…
S.C. Code § 33-47-220
Execution and filing of articles; effect thereof
The articles must be subscribed by the incorporators and acknowledged by one of them before an officer authorized by the law of this State to take and certify acknowledgments of deeds and conveyances and shall be filed in accordance with the provisions of the general corporation law of this State. When so filed they sh…
S.C. Code § 33-47-230
Powers of association
Each association incorporated under this chapter shall, in addition to the powers conferred on all private corporations by SECTION 33-3-102, have the following powers: (1) To engage in any activity in connection with (a) the producing, marketing, selling, harvesting, preserving, drying, processing, canning, packing, st…
S.C. Code § 33-47-240
Amendment of articles of incorporation
The articles of incorporation may be altered or amended at any regular meeting or at any special meeting called for that purpose. An amendment must first be approved by two thirds of the directors and then adopted by a vote representing a majority of a quorum of the members attending a meeting prior to which notice of…
S.C. Code § 33-47-250
Amendments requiring approval of three fourths of members
The provisions of the articles of incorporation inserted therein pursuant to item (6) of SECTION 33-47-210 shall not be altered, amended or repealed except by the written consent or vote of three fourths of the members.
S.C. Code § 33-47-260
Fees
For filing articles of incorporation an association organized hereunder shall pay ten dollars, and for filing an amendment to such articles, two dollars and fifty cents.
S.C. Code § 33-47-410
Membership
Under the terms and conditions prescribed in its bylaws an association may admit as members or issue common stock only to persons engaged in the production of the agricultural products to be handled by or through the association, including the lessees and tenants of land used for the production of such products and any…
S.C. Code § 33-47-420
Associations as members
One association organized hereunder may become a member or stockholder of any other association or associations organized hereunder.
S.C. Code § 33-47-430
Certificate of membership
When a member of an association established without capital stock has paid his membership fee in full he shall receive a certificate of membership.
S.C. Code § 33-47-440
Admission of new members
The association may admit new members who shall be entitled to share in the property of the association with the old members, in accordance with such general rule or rules as may be prescribed in the articles of incorporation.
S.C. Code § 33-47-450
Representation of members other than natural persons
If a member of a nonstock association be other than a natural person, such member may be represented by an individual, associate, officer or member thereof duly authorized in writing.
S.C. Code § 33-47-460
Limitation on business with nonmembers
No association organized under this chapter shall, during any fiscal year thereof, deal in or handle products, machinery, equipment and supplies and perform services for and on behalf of nonmembers to an amount greater in value than such as are dealt in, handled and performed by it for and on behalf of members during t…
Page 1 of 2Next →