New Hampshire Revised Statutes 301:3 – Powers
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Each association incorporated hereunder shall have the following powers:
I. To engage in any activity in connection with the marketing, selling, preserving, harvesting, drying, processing, manufacturing, canning, packing, grading, storing, handling, or utilization of any agricultural products or the manufacturing or marketing of the by-products thereof, any activity in connection with the purchase, hiring or use by its members of supplies, machinery, or equipment, in financing any of the before mentioned activities. No association, however, shall handle agricultural products of non-members to an extent greater in value than the products of its own members which it handles. Nor shall such an association engaged in the purchase, hiring, or use by its members of supplies, machinery, or equipment do such business with nonmembers during any fiscal year in an amount greater in value than it does business with members.
II. To have perpetual succession in its corporate name unless incorporated or formed for a limited term, or dissolved as provided by law.
III. To borrow money without limitation as to amount of incorporate indebtedness or liability.
IV. To make advance payments and advances to members.
V. To act as the agent or representative of any member or members in any of the above mentioned activities.
VI. To purchase or otherwise acquire, to exercise all rights of ownership or control in and to sell, transfer, or pledge, or guarantee the payment of dividends or interest on, or the retirement or redemption of, shares of the capital stock or bonds of any corporation or association engaged in any related activity or in the warehousing, handling, or marketing of any of the products handled by the association.
VII. To establish reserves and to invest the funds thereof in bonds or in such other property as may be provided in the bylaws.
VIII. To buy, hold, and exercise all privileges of ownership over such real or personal property as may be necessary or convenient for the conduct and operation of any of the business of the association, or business incidental thereto.
IX. To establish, secure, own, and develop patents, trademarks, trade names, and copyrights.
X. To engage in rural electrification as limited and defined by N.H. Rev. Stat. § 301:53.
XI. To do everything necessary, suitable, or proper for the accomplishment of any of the purposes or the attainment of any of the objects herein enumerated, or conducive to or expedient for the interest or benefit of the association, and to contract accordingly; to exercise and possess all powers, rights, and privileges necessary or incidental to the purposes for which the association is organized or to the activities in which it is engaged, and, in addition, any other rights, powers, and privileges granted by the laws of this state to corporations organized under the general laws of this state, except such as are inconsistent with the express provisions of this chapter; and to do any such thing anywhere.
I. To engage in any activity in connection with the marketing, selling, preserving, harvesting, drying, processing, manufacturing, canning, packing, grading, storing, handling, or utilization of any agricultural products or the manufacturing or marketing of the by-products thereof, any activity in connection with the purchase, hiring or use by its members of supplies, machinery, or equipment, in financing any of the before mentioned activities. No association, however, shall handle agricultural products of non-members to an extent greater in value than the products of its own members which it handles. Nor shall such an association engaged in the purchase, hiring, or use by its members of supplies, machinery, or equipment do such business with nonmembers during any fiscal year in an amount greater in value than it does business with members.
Terms Used In New Hampshire Revised Statutes 301:3
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
- Personal property: All property that is not real property.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
II. To have perpetual succession in its corporate name unless incorporated or formed for a limited term, or dissolved as provided by law.
III. To borrow money without limitation as to amount of incorporate indebtedness or liability.
IV. To make advance payments and advances to members.
V. To act as the agent or representative of any member or members in any of the above mentioned activities.
VI. To purchase or otherwise acquire, to exercise all rights of ownership or control in and to sell, transfer, or pledge, or guarantee the payment of dividends or interest on, or the retirement or redemption of, shares of the capital stock or bonds of any corporation or association engaged in any related activity or in the warehousing, handling, or marketing of any of the products handled by the association.
VII. To establish reserves and to invest the funds thereof in bonds or in such other property as may be provided in the bylaws.
VIII. To buy, hold, and exercise all privileges of ownership over such real or personal property as may be necessary or convenient for the conduct and operation of any of the business of the association, or business incidental thereto.
IX. To establish, secure, own, and develop patents, trademarks, trade names, and copyrights.
X. To engage in rural electrification as limited and defined by N.H. Rev. Stat. § 301:53.
XI. To do everything necessary, suitable, or proper for the accomplishment of any of the purposes or the attainment of any of the objects herein enumerated, or conducive to or expedient for the interest or benefit of the association, and to contract accordingly; to exercise and possess all powers, rights, and privileges necessary or incidental to the purposes for which the association is organized or to the activities in which it is engaged, and, in addition, any other rights, powers, and privileges granted by the laws of this state to corporations organized under the general laws of this state, except such as are inconsistent with the express provisions of this chapter; and to do any such thing anywhere.