Missouri Laws 274.220 – Membership in other corporations — functions
1. An association may organize, form, operate, control, have an interest in, or be a member of a corporation or other entity and engage 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.
2. If such corporations are warehousing corporations, they may issue legal warehouse receipts to the association against the commodities delivered by it, or to any other person and such legal warehouse receipts shall be considered as adequate collateral to the extent of the usual and current value of the commodity represented thereby.
Terms Used In Missouri Laws 274.220
- Agricultural products: includes horticultural, viticultural, forestry, dairy, livestock, poultry, bee or any farm products. See Missouri Laws 274.020
- Association: any corporation organized under this chapter. See Missouri Laws 274.020
- Corporation: 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: includes actual members of associations without capital stock. See Missouri Laws 274.020
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
- United States: includes such district and territories. See Missouri Laws 1.020
3. In case such warehouse is licensed or licensed and bonded under the laws of this or any other state or the United States, its warehouse receipt delivered to the association on commodities of the association or its members, or delivered by the association or its members, shall not be challenged or discriminated against because of ownership or control, wholly or in part, by the association.