Sec. 52.013. GENERAL POWERS. A marketing association may:
(1) engage in any activity connected with:
(A) the production, cultivation, and care of citrus groves;
(B) the marketing, selling, harvesting, preserving, drying, processing, canning, packing, storing, handling, or use of any agricultural products produced or delivered to it by its members;
(C) the production, manufacturing, or marketing of the by-products of those agricultural products;
(D) the purchase, hiring, or use by its members of supplies, machinery, or equipment; and
(E) the financing of an activity enumerated by Paragraphs (A) through (D) of this subdivision;
(2) borrow money and make advances to its members;
(3) act as an agent or representative of any member in an activity authorized by Subdivision (1) or (2) of this section;
(4) acquire, hold, own, exercise all rights of ownership in, sell, transfer, or pledge shares of capital stocks or bonds of a corporation or association, including a bank for cooperatives organized under the Farm Credit Act of 1933, engaged in an activity related to that of the association incorporated under this chapter or engaged in the handling or marketing of a product handled by the association;
(5) establish reserves and invest the money in those reserves in bonds or other property as provided by the association's bylaws;
(6) buy, hold, and exercise all privileges of ownership over real or personal property that is determined by the association to be necessary or convenient for, or incidental to, conducting and operating its business;
(7) perform, in or outside this state, acts that are necessary, suitable, or proper to accomplish the purposes and objectives permitted by this section or that are conducive to or expedient for the interest or benefit of the association, and may contract for the performance of those acts;
(8) possess and exercise, in or outside this state, all powers, rights, and privileges necessary for or incidental to the purposes for which the association is organized or the activities in which it is engaged;
(9) exercise the rights, powers, and privileges that are granted by the laws of the state to general corporations and that are not inconsistent with this chapter; and
(10) deliver money to a scholarship fund for rural students.
Acts 1981, 67th Leg., p. 1104, ch. 388, Sec. 1, eff. Sept. 1, 1981. Amended by Acts 1997, 75th Leg., ch. 904, Sec. 3, eff. Sept. 1, 1997.