South Carolina Code 33-47-230. Powers of association
(1) To engage in any activity in connection with
Terms Used In South Carolina Code 33-47-230
- agricultural products: shall include horticultural, viticultural, forestry, dairy, livestock, poultry, bee and any other farm products;
(2) The term "member" shall include actual members of associations without capital stock and holders of common stock in associations organized with capital stock; and
(3) The term "association" means any corporation organized under this chapter. See South Carolina Code 33-47-20 - association: means any corporation organized under this chapter. See South Carolina Code 33-47-20
- 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.
- Personal property: All property that is not real property.
(a) the producing, marketing, selling, harvesting, preserving, drying, processing, canning, packing, storing, handling or utilization of any agricultural products produced or delivered to it by its members,
(b) the manufacturing or marketing of the by-products thereof,
(c) the purchase, hiring or use by its members of supplies, machinery or equipment,
(d) the financing of any such activities or
(e) more than one of the activities specified in this section;
(2) To borrow money and to make advances to members;
(3) To act as agent or representative of any member in any of the above-mentioned activities;
(4) To purchase or otherwise acquire and to hold, own and exercise all rights of ownership in and to sell, transfer or pledge shares of the capital stock or bonds of any corporation or association engaged in any related activity or in the handling or marketing of any of the products handled by the association;
(5) To establish reserves and to invest the funds thereof in bonds or such other property as may be provided in the bylaws;
(6) 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 incidental thereto; and
(7) To do each and 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 any other rights, powers and privileges granted by the laws of this State to ordinary corporations, except such as are inconsistent with the express provisions of this chapter; and to do any such thing anywhere.