A person shall become a member of a cotton cooperative association organized or domesticated under the laws of this State only when the membership contract shall be in duplicate, shall state the time of the duration of such contract and shall be signed both by the member and the association. The signature of any person on a draft or check containing conditions which purport to make a person a member of a cotton cooperative association as a prerequisite to obtaining money on any draft or check given to him for any cotton which he has sold or pledged to any cotton cooperative association shall not be construed as making such person a member of the association, even though he has signed or endorsed the check or draft. Any person violating any of the terms of this section shall be guilty of a misdemeanor and, upon conviction, punished by a fine of not less than one hundred dollars and not more than one thousand dollars or by imprisonment for a period of not less than thirty days and not more than six months, or both, in the discretion of the court. Each violation of any provision of this section shall be deemed a separate offense.
HISTORY: 1962 Code Section 12-817; 1952 Code Section 12-817; 1942 Code Section 8149-1; 1937 (40) 540.
Structure South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
Chapter 45 - Cooperative Associations Generally
Section 33-45-10. Definitions.
Section 33-45-20. Restrictions on use of the term "cooperative".
Section 33-45-30. Cooperative associations authorized.
Section 33-45-40. Filing of petition with Secretary of State.
Section 33-45-50. Issuance of commission by Secretary of State.
Section 33-45-60. Payment of subscriptions.
Section 33-45-70. Effect of failure to perform labor or deliver property.
Section 33-45-80. Minimum amount and par value of stock.
Section 33-45-90. Limitation on vote and amount of stock of single stockholder.
Section 33-45-100. Organization and election of directors.
Section 33-45-110. Management of affairs of corporation; removal of directors or officers.
Section 33-45-130. Calls for payment of subscriptions.
Section 33-45-140. Issuance of certificate of charter; recordation.
Section 33-45-145. Amendment of articles of incorporation.
Section 33-45-150. Powers of association.
Section 33-45-160. Investment in other cooperative.
Section 33-45-170. Membership in cotton cooperative.
Section 33-45-180. Apportionment of earnings.
Section 33-45-190. Annual report to Commissioner of Agriculture.
Section 33-45-200. Other associations may accept benefits of chapter.