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1994 SESSION

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SB 75 Cooperative associations.

Introduced by: Edward M. Holland | all patrons    ...    notes | add to my profiles

SUMMARY:

Cooperative associations. Authorizes cooperative associations to organize as nonstock corporations. Current law authorizes such associations to organize only as stock corporations. The bill also permits cooperative associations to organize for purposes of conducting any service business or providing financing to entities which have been organized pursuant to the laws of any state. Additionally, the bill prohibits cooperative associations, including foreign cooperative associations, from conducting business as a public service company, excepting domestic water or sewer companies. An emergency clause makes the bill effective from its passage.


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