(1)  If a marketing contract provides for the sale of products, commodities, or goods to a limited cooperative association, the sale transfers title to the association upon delivery or at any other specific time expressly provided by the contract.

Terms Used In Utah Code 16-16-702

  • Contract: A legal written agreement that becomes binding when signed.
(2)  A marketing contract may:

(a)  authorize a limited cooperative association to create an enforceable security interest in the products, commodities, or goods delivered; and

(b)  allow the association to sell the products, commodities, or goods delivered and pay the sales price on a pooled or other basis after deducting selling costs, processing costs, overhead, expenses, and other charges.

(3)  Some or all of the provisions of a marketing contract between a patron member and a limited cooperative association may be contained in the organic rules.

Enacted by Chapter 363, 2008 General Session

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