2013 South Carolina Code of Laws
Title 33 - Corporations, Partnerships and Associations
CHAPTER 47 - MARKETING COOPERATIVE ASSOCIATIONS
SECTION 33-47-1110. Contracts for marketing products.
The association and its members may make and execute marketing contracts requiring the members to sell, for any period of time not over ten years, all or any specified part of their agricultural products or specified commodities exclusively to or through the association or any facilities to be created by the association. The contract may provide that the association may sell or resell the products of its members, with or without taking title thereto, and pay over to its members the resale price after deducting all necessary selling, overhead and other costs and expenses, including dividends on preferred stock, not exceeding eight per cent per annum, reserves for retiring the stock, if any, other proper reserves and dividends not exceeding eight per cent per annum upon common stock.
HISTORY: 1962 Code Section 12-971; 1952 Code Section 12-971; 1942 Code Section 6515; 1932 Code Section 6515; Civ. C. '22 Section 3419; 1921 (32) 339.
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