Any corporation or association organized under this article shall pay to the state the annual permit fee of $10.00 now required by law and shall pay all ad valorem taxes on its real and personal property; except, that all cotton and all other agricultural products which have been raised or produced in the State of Alabama, title to which may be held by such corporation or association in its own right or for the use and benefit of its members, and all goods and articles purchased or acquired by such corporation, whether in or out of the state, for its own use or for the use and benefit of its members for strictly agricultural or farm purposes in this state, shall, so long as held by such corporation or association, be exempt from taxation, nor shall such corporation be liable for any other license or privilege fee or tax for the purpose of engaging in or transacting business or otherwise in this state.
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.