Sec. 301.047. CONSTRUCTION OF SUBCHAPTER. (a) This subchapter does not prevent a cooperative association from: (1) creating recourse or nonrecourse debt in the form of bonds, debentures, notes, or any other form of obligation; (2) encumbering, mortgaging, pledging, or granting a security interest in any property of the cooperative association; (3) refunding existing debt or obligations by any means available under this subchapter; or (4) otherwise exercising all express or implied powers granted by Section 301.033 (b), 301.037 , 301.038 , 301.039 , or 301.044 , or granted by state corporation laws. (b) This section only clarifies the powers of cooperative associations and does not expand their powers.
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