An association may organize, form, operate, own, control, have an interest in, own stock of, or be a member of any other corporation or corporations, with or without capital stock and engaged in preserving, drying, processing, canning, packing, storing, handling, shipping, utilizing, manufacturing, marketing, or selling of the fishery products handled by the association, or the by-products thereof.

If such corporations are warehousing corporations, they may issue legal warehouse receipts to the association against the commodities delivered by it, or to any other person and such legal warehouse receipts shall be considered as adequate collateral to the extent of the usual and current value of the commodity represented thereby. In case such warehouse is licensed or licensed and bonded under the laws of this State or the United States, its warehouse receipt delivered to the association on commodities of the association or its members, or delivered by the association or its members, shall not be challenged or discriminated against because of ownership or control, wholly or in part, by the association.

Terms Used In California Corporations Code 13334

  • Association: means any corporation organized under this part. See California Corporations Code 13202
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fishery products: includes fish, crustaceans, mollusks, and marine products for human consumption. See California Corporations Code 13202
  • Member: includes members of associations without capital stock and holders of common stock in associations organized with shares of stock. See California Corporations Code 13202
  • Person: includes a corporation as well as a natural person. See California Corporations Code 18
  • State: means the State of California, unless applied to the different parts of the United States. See California Education Code 77

(Added by Stats. 1953, Ch. 207.)

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