Idaho Code 22-2621 – Interest in Other Corporations or Associations
Current as of: 2023 | Check for updates
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Terms Used In Idaho Code 22-2621
- agricultural products: shall include horticultural, viticultural, forestry, dairy, livestock, poultry, bee and any farm products;
Idaho Code 22-2602association: means any corporation organized under this chapter; and
Idaho Code 22-2602Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name. member: shall include actual members of associations without capital stock and holders of common stock in associations organized with capital stock;
Idaho Code 22-2602person: shall include individuals, firms, partnerships, corporations and associations. See Idaho Code 22-2602 State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
An association may organize, form, operate, own, control, have an interest in, own stock of, or be a member of any other corporation or corporations, with or without capital stock, and engaged in preserving, drying, processing, canning, packing, storing, handling, shipping, utilizing, manufacturing, marketing, or selling of the agricultural products handled by the association, or the by-products thereof. If such corporations are warehousing corporations, they may issue legal warehouse receipts to the association or to any other person and such legal warehouse receipts shall be considered as adequate collateral to the extent of the current value of the commodity represented thereby. In case such warehouse is licensed and bonded under the laws of this state or the United States, its warehouse receipt shall not be challenged or discriminated against because of ownership or control, wholly or in part, by the association.