(a) Activities that may be Engaged in. Engage in any activity in connection with the marketing, selling, preserving, harvesting, drying, processing, manufacturing, canning, packing, grading, storing, handling or utilization of any products produced or delivered to it by its members; or the manufacturing or marketing of the by-products thereof; or any activity in connection with the purchase, hiring, or use by its members of supplies, machinery or equipment, or in any one or more of the activities specified in this section.

(b) Borrowing and Advances. Borrow without limitation as to amount of corporate indebtedness or liability and may make advances to members.

(c) Act as the Agent or representative of any member or members in any of the above-mentioned activities.

(d) Ownership and Dealing in Shares and Bonds. Purchase or otherwise acquire, hold, own, and exercise all rights of ownership in, sell,

COL070307
18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 13 NONPROFIT COOPERATIVE ASSOCIATIONS

transfer, 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 or handling or marketing or packing or manufacturing or processing or preparing for market of any of the products handled by the association.

(e) Reserves and Investments. Establish reserves and invest the funds thereof in bonds or in such other property as may be provided in the bylaws.

(f) Property Ownership. 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 asso- ciation, or incidental thereto.

(g) Assessments. Levy assessments in the manner and in the amount as may be provided in its bylaws.

(h) Other Things Necessary, Suitable or Proper. Do each and everything necessary, suitable or proper for the accomplishment of any one of the purposes or the attainment of any one or more of the objects herein enumerated; or conducive to or expedient for the interest or benefit of the association; and contract accordingly; and in addition 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 territory to ordinary corporations, except such as are inconsistent with the express provisions of this Chapter, and do any such thing anywhere.

(i) Purposes for Which Facilities may be used or Employed. Use or employ any of its facilities for any purpose, provided the proceeds arising from such use and employment shall go to reduce the cost of operation for its members; and provided, further, that the products handled for or the services, machinery, equipment or supplies or facilities furnished to non- members shall not exceed in value the products handled for or the services, merchandise or facilities supplied to members during the same period.

SOURCE: CC § 650.5.