Such incorporated association 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 purposes of this chapter 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; and 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 chapter, and shall have and enjoy all the rights, privileges and immunities of other corporations not inconsistent with this chapter.
Structure Mississippi Code
Title 79 - Corporations, Associations, and Partnerships
Chapter 17 - Agricultural Associations; Conversion to Corporate Form
§ 79-17-1. Agriculture classified as primary industry
§ 79-17-3. A supplementary law
§ 79-17-9. Name of associations incorporated hereunder
§ 79-17-13. How associations may be formed
§ 79-17-15. Organization, officers, bylaws
§ 79-17-17. Board of directors to control affairs
§ 79-17-19. Voting by mail, dues and fees
§ 79-17-21. Membership nontransferable
§ 79-17-23. Associations with capital stock, etc.
§ 79-17-25. Powers of association
§ 79-17-27. Charges for expenses and creating reserve
§ 79-17-29. Certain suits authorized
§ 79-17-31. Associations may federate
§ 79-17-33. How federation managed
§ 79-17-35. "Producers" defined
§ 79-17-37. Powers of federation