§ 291. Authorization of associations; powers

Statutory text

Persons engaged in the production of agricultural products as farmers, planters, ranchmen, dairymen, nut or fruit growers may act together in associations, corporate or otherwise, with or without capital stock, in collectively processing, preparing for market, handling, and marketing in interstate and foreign commerce, such products of persons so engaged. Such associations may have marketing agencies in common; and such associations and their members may make the necessary contracts and agreements to effect such purposes: Provided, however, That such associations are operated for the mutual benefit of the members thereof, as such producers, and conform to one or both of the following requirements:

First. That no member of the association is allowed more than one vote because of the amount of stock or membership capital he may own therein, or,

Second. That the association does not pay dividends on stock or membership capital in excess of 8 per centum per annum.

And in any case to the following:

Third. That the association shall not deal in the products of nonmembers to an amount greater in value than such as are handled by it for members.

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1922
Pub. L. 67–57 § 1 · 42 Stat. 147
Enacted · 7 U.S.C. § 291
(Feb. 18, 1922, ch. 57, § 1, 42 Stat. 388.)
Source evidence
Code source credit
(Feb. 18, 1922, ch. 57, § 1, 42 Stat. 388.)
Enacted provision · exact public law section
Section 1. There is hereby established an independent bureau Established under direction of the President. under the President to be known as the Veterans’ Bureau, the director of which shall be appointed by the President, by and with the advice and consent of the Senate. The director of the Veterans’ Director. Appointment and salary. Bureau shall receive a salary of $10,000 per annum, payable monthly. The word “director,” as hereinafter used in this Act, shall mean the Director of the Veterans’ Bureau. Director of War Risk Insurance Bureau. Office abolished and powers transferred. The powers and duties pertaining to the office of the Director of the Bureau of Wai’ Risk Insurance now in the Treasury Department are hereby transferred to the director, subject to the general direction of the President, and the said office of the Director of the Bureau of War Risk Insurance is hereby abolished. Administrative staff authorized. There shall be included on the technical and administrative staff of the director such staff officers, experts, and assistants as the director shall prescribe; and there shall be in the Veterans’ Bureau such sections and subdivisions thereof as the director shall prescribe.

1 of 1 references resolved to an enrolled provision

Credits

(Feb. 18, 1922, ch. 57, § 1, 42 Stat. 388.)