Sec. 2.110. POWERS OF COOPERATIVE ASSOCIATION. (a) Except as provided by Chapter 251, a cooperative association may exercise the same powers and privileges and is subject to the same duties, restrictions, and liabilities as a nonprofit corporation.
(b) A cooperative association may:
(1) own and hold membership in other associations or corporations;
(2) own and hold share capital of other associations or corporations;
(3) own and exercise ownership rights in bonds or other obligations;
(4) make agreements of mutual aid or federation with other associations, other groups organized on a cooperative basis, or other nonprofit groups; and
(5) deliver money to a scholarship fund for rural students.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Chapter 2 - Purposes and Power of Domestic Entity
Subchapter B. Powers of Domestic Entity
Section 2.102. Additional Powers of Nonprofit Entity or Institution
Section 2.103. Power to Incur Indebtedness
Section 2.104. Power to Make Guaranties
Section 2.105. Additional Powers of Certain Pipeline Businesses
Section 2.106. Power of Nonprofit Corporation to Serve as Trustee
Section 2.108. Powers of Professional Association
Section 2.109. Powers of Professional Corporation
Section 2.110. Powers of Cooperative Association
Section 2.111. Limitation on Powers of Cooperative Association
Section 2.112. Stated Powers in Subchapter Sufficient
Section 2.113. Limitation on Powers
Section 2.114. Certificated Indebtedness; Manner of Issuance; Signature and Seal