An association incorporated under this article may make charges to its members and deductions from the proceeds of their products for services rendered to them, for the purpose of paying the expenses of operation and the maintenance and development of such association and for the creation and maintenance of reserves for the purpose of paying expenses, retiring obligations, acquiring, maintaining and operating property necessary or useful in carrying out the purpose of this article and for caring for contingencies, and such reserves may be used or distributed as may be deemed proper by the board of directors under the bylaws. Such corporation may make patronage dividends or distributions to its members and may do any and all things not unlawful in carrying out the purposes of this article, and shall have and enjoy all the rights, privileges and immunities of other corporations not inconsistent with this article.
Structure Code of Alabama
Chapter 10 - Cooperatives and Associations.
Article 4 - Mutual Farming or Trucking Associations.
Section 2-10-90 - Definitions.
Section 2-10-91 - Purposes of Article.
Section 2-10-92 - How Association May Be Formed; Amendments to Articles of Incorporation.
Section 2-10-93 - Organization Generally; Adoption of Bylaws.
Section 2-10-94 - Board of Directors.
Section 2-10-95 - Election and Duties of Officers.
Section 2-10-96 - Voting by Mail or Proxy; Fees and Dues.
Section 2-10-98 - Organization With Capital Stock.
Section 2-10-99 - Powers of Association.
Section 2-10-100 - Associations May Federate.
Section 2-10-101 - How Federation Organized and Managed.
Section 2-10-102 - Powers of Federation.
Section 2-10-103 - Charges for Expenses and Creating Reserve; Patronage Dividends.
Section 2-10-104 - Certain Civil Actions Authorized.
Section 2-10-105 - Permit Fee; Taxation.
Section 2-10-106 - Existing Associations May Come Under This Article.
Section 2-10-107 - Fees for Filing Articles of Incorporation.
Section 2-10-108 - Incorporated Marketing Association Not Affected.