2012 New York Consolidated Laws
CCO - Cooperative Corporations
Article 2 - (10 - 18) FORMATION AND DISSOLUTION OF COOPERATIVE CORPORATIONS; CLASSES; POWERS; BY-LAWS
14 - General powers.

 
    §  14. General powers. In addition to the powers and rights set out in
  the  business  corporation  law  or,  in  the  case  of   a   membership
  cooperative,  the not-for-profit corporation law and subject thereto and
  subject to the provisions of this  chapter,  a  cooperative  corporation
  shall  have the following additional specific powers to be exercised for
  the furtherance of its lawful purposes and business:
    (a) To define or limit its activities as set forth in its  certificate
  of incorporation or in its by-laws.
    (b) To handle the products of non-members, except that, in the case of
  a  producers'  cooperative corporation, such non-member products handled
  in any year must not exceed the total of similar  products  handled  for
  its own members.
    (c) To make advance payments or loans to members.
    (d) To  act  as  the  agent or representative of any member, including
  other cooperatives with which it is affiliated in any of the  activities
  of the member or other cooperative.
    (e) To  acquire, own, sell, transfer or pledge shares of capital stock
  or bonds or other securities of any corporation or  association  engaged
  in  any  directly  related  activity  or in the warehousing, handling or
  marketing of any of the products handled by the corporation.
    (f) To establish reserves, and to invest the funds thereof in bonds or
  in such other property as may be provided in the by-laws.
    (g) To establish, secure, own  and  develop  patents,  trademarks  and
  copyrights.
    (h) To  set  forth  in  its  certificate  of incorporation, by-laws or
  member   contracts   the   number,   qualifications,    classifications,
  obligations  and relative rights of its members; and general rules as to
  the property and funds of the corporation, the property  rights,  voting
  rights  and  interests of members and of its several classes of members,
  the admission of new members, the resignation or removal of members, the
  transfer, suspension, termination, forfeiture, retirement  and  purchase
  of  membership and membership certificates (including shares of stocks),
  the  methods  thereof,  the  distribution  to  members,  the  making  of
  contracts  with its members and with others, the holding of meetings and
  elections, the establishment of voting districts, and  the  election  of
  delegates  to  represent  the  members in such districts or to represent
  affiliated corporations or associations.
    (i) To  adopt  and  amend  by-laws,  consistent  with  law   and   the
  certificate  of incorporation, including emergency by-laws made pursuant
  to  subdivision  seventeen  of  section  twelve  of  the  state  defense
  emergency  act,  relative  to  the  foregoing  subjects, the conduct and
  management of the affairs of the corporation, the calling and conduct of
  meetings, the amount of stock or the number or proportion of members  or
  delegates  which  must  be  represented at meetings of the shareholders,
  members or delegates to constitute a quorum, the manner of  voting,  the
  election,  appointment,  removal, powers, duties, terms and compensation
  of its officers, directors and committees, and the fixing of  procedures
  and  liabilities  in  case  of  violations  of  the  by-laws  or  of the
  obligations of members, officers or directors.
    (j) To become a member of any other cooperative corporation with  such
  rights,   powers  and  representations  as  may  be  prescribed  in  the
  certificate of incorporation or the by-laws of the latter corporation.
    (k) To act as agent for  a  non-member  in  the  performance  of  such
  services as are permitted under this chapter for its members.
    (l) To  enter  into all proper contracts and agreements with any other
  cooperative corporation for the cooperative and more economical carrying
  on of its business or any portion thereof,  or  for  the  employment  of
  common facilities or agencies.

    (m) To  act  as an agency for, or subsidiary of, any other cooperative
  corporation or corporations.
    (n) To  act  as  a holding corporation for the properties of any other
  cooperative corporation or corporations.
    (o) To borrow  money  and  contract  debts,  when  necessary  for  the
  exercise  of  its corporate rights and purposes; to issue and dispose of
  its obligations for any amount so borrowed; and to pledge  its  property
  and franchises to secure the payment of its debts.
    (p) To limit the amount of indebtedness which may be incurred by it or
  on its behalf.
    (q) To  possess  and  exercise  all  powers,  rights  and  privileges,
  including the acquisition  of  real  property,  necessary,  suitable  or
  incidental  to  the  purposes or activities for which the corporation is
  organized or in which it is engaged.