2012 New York Consolidated Laws
CCO - Cooperative Corporations
Article 6 - (110 - 113) AGRICULTURAL COOPERATIVE CORPORATION
111 - Definitions.

 
    §  111.  Definitions.  For  the purposes of this article: (a) the term
  "agricultural  cooperative"  means  a  cooperative,  either   stock   or
  non-stock,  operated  for the mutual benefit of the members in which (1)
  no member is allowed more than one vote because of the amount  of  stock
  or membership capital he or she may own therein, and (2) the cooperative
  does  not  pay  dividends  on  stock  or membership capital in excess of
  twelve per centum per annum, and (3) the cooperative does  not  deal  in
  farm products, agricultural waste products or agricultural compost, farm
  supplies,  farm  business  services and the capture of methane and other
  gases for the generation and use  or  sale  of  energy,  as  defined  in
  section  1-103  of  the  energy law with or for non-members in an amount
  greater in value than the total amount of such business transacted by it
  with or for members.
    Only persons engaged in the production of  agricultural  products,  or
  cooperative  corporations  of such producers organized under the laws of
  this or any other  state,  shall  be  eligible  for  membership  in  any
  agricultural  marketing  or  purchasing  corporation  formed or operated
  under the provisions of  this  article.  The  terms  and  conditions  of
  membership  shall  be  prescribed in the by-laws. The board of directors
  shall be chosen at the time  and  place  and  for  terms  fixed  by  the
  by-laws,  but  at  least  one-fourth  of  the  directors must be elected
  annually.
    The by-laws may provide for their amendment by the board of directors;
  but any amendment adopted by the board which  affects  the  preferential
  rights  or  obligations of the members or stockholders shall be reported
  to the next annual meeting of the corporation, and if not  affirmatively
  approved  thereat  shall cease to be in effect. Such by-laws reported to
  the  annual  meeting  may  be  adopted,  repealed  or  amended  on   the
  affirmative vote of two-thirds of the members, stockholders or delegates
  voting  thereon at a meeting held after due written notice setting forth
  the proposed action and the purpose of the meeting.
    (b)  The  term  "agricultural  products"  shall  mean   horticultural,
  viticultural,   dairy,  livestock,  poultry,  bee  and  any  other  farm
  products.
    (c) The terms "feed", "food", and "food products" mean any  substance,
  capable  of  human, animal or poultry consumption, whether simple, mixed
  or compound, and all substances or ingredients added to  food  for  such
  purpose.
    (d)  The term "agricultural waste products" means livestock manure and
  crop residues.
    (e) The  term  "agricultural  compost"  means  organic  waste  derived
  principally  from  farm  operations  and  which  has  been  subjected to
  aerobic, thermophilic decomposition  to  produce  a  stable,  humus-like
  material.