22-2617. MARKETING CONTRACT. The association and its members may make and execute marketing contracts, requiring the members to sell, for any period of time, not over ten (10) years, all or any specified part of their agricultural products or specified commodities exclusively to or through the association or any facilities to be created by the association. The contract may provide that the association may sell or resell the products of its members, with or without taking title thereto; and pay over to its members the resale price, after deducting all necessary selling, overhead and other costs and expenses, and reserves for retiring the stock, if any; and other proper reserves; and interest upon common stock.
The bylaws and the marketing contract may fix, as liquidated damages, specific sums to be paid by the member or stockholder to the association upon the breach by him of any provision of the marketing contract regarding the sale or delivery or withholding of products; and may further provide that the member will pay all costs, premiums for bonds, expenses and fees in case any action is brought upon the contract by the association; and any such provisions shall be valid and enforceable in the courts of this state.
In the event of any such breach or threatened breach of such marketing contract by a member, the association shall be entitled to an injunction to prevent the further breach of the contract, and to a decree of specific performance thereof. Pending the adjudication of such an action and upon filing a verified complaint showing the breach or threatened breach, and upon filing a sufficient bond, the association shall be entitled to a temporary restraining order and preliminary injunction against the member.
History:
[(22-2617) 1921, ch. 124, sec. 17, p. 298; I.C.A., sec. 22-2017; am. 2019, ch. 49, sec. 2, p. 135.]
Structure Idaho Code
Title 22 - AGRICULTURE AND HORTICULTURE
Chapter 26 - COOPERATIVE MARKETING ASSOCIATIONS
Section 22-2601 - DECLARATION OF POLICY.
Section 22-2602 - DEFINITIONS — SHORT TITLE.
Section 22-2603 - ASSOCIATIONS — WHO MAY ORGANIZE.
Section 22-2605 - PRELIMINARY INVESTIGATION.
Section 22-2608 - ARTICLES OF INCORPORATION — CONTENTS — SUBSCRIBING AND FILING.
Section 22-2609 - ARTICLES OF INCORPORATION — AMENDMENT.
Section 22-2610 - BYLAWS — ADOPTION — CONTENTS — AMENDMENT.
Section 22-2611 - GENERAL AND SPECIAL MEETINGS — HOW CALLED.
Section 22-2613 - ELECTION OF OFFICERS.
Section 22-2615 - REMOVAL OF OFFICER OR DIRECTOR.
Section 22-2617 - MARKETING CONTRACT.
Section 22-2620 - CONFLICTING LAWS NOT TO APPLY.
Section 22-2621 - INTEREST IN OTHER CORPORATIONS OR ASSOCIATIONS.
Section 22-2622 - CONTRACTS AND AGREEMENTS WITH OTHER ASSOCIATIONS.
Section 22-2622A - CONSOLIDATION AND MERGER AGREEMENTS — VOTING REQUIREMENTS.
Section 22-2623 - ASSOCIATION HERETOFORE ORGANIZED MAY ADOPT PROVISIONS OF CHAPTER.
Section 22-2625 - SEPARABILITY.