Sec. 2.110. POWERS OF COOPERATIVE ASSOCIATION. (a) Except as provided by Chapter 251 , a cooperative association may exercise the same powers and privileges and is subject to the same duties, restrictions, and liabilities as a nonprofit corporation. (b) A cooperative association may: (1) own and hold membership in other associations or corporations; (2) own and hold share capital of other associations or corporations; (3) own and exercise ownership rights in bonds or other obligations; (4) make agreements of mutual aid or federation with other associations, other groups organized on a cooperative basis, or other nonprofit groups; and (5) deliver money to a scholarship fund for rural students.
‹ Prev All Texas sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.