Associations incorporated under this provision have listed powers to conduct agricultural and related business activities, borrow money, make advances, hold property, and manage intellectual property, subject to stated limits.
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 RSA 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. Source: Source. 1925, 33:4. PL 224:3. 1933, 73:1. RL 273:3.