Iowa Code 501A.501 – Organizational purpose
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A cooperative may be formed and organized for any lawful purpose for the benefit of its members, including but not limited to any of the following purposes:
1. To store or market agricultural commodities, including crops and livestock.
Terms Used In Iowa Code 501A.501
- Cooperative: means a business association organized under this chapter. See Iowa Code 501A.102
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Livestock: means the same as defined in section 717. See Iowa Code 501A.102
- Patron: means a person or entity who conducts patronage with the cooperative, regardless of whether the person is a member. See Iowa Code 501A.102
2. To market, process, or otherwise change the form or marketability of agricultural commodities. The cooperative may provide for the manufacturing or processing of those commodities into products.
3. To accomplish other purposes that are necessary or convenient to facilitate the production or marketing of agricultural commodities or agricultural products by patron members, other patrons, and other persons, and for other purposes that are related to the business of the cooperative.
4. To provide products, supplies, and services to its patron members, other patrons, and others.
5. For any other purpose that a cooperative is authorized by law under chapter 499 or 501.