Tex. Bus. Orgs. Code Section 2.110
Powers of Cooperative Association


(a)

Except as provided by Chapter 251 (Cooperative Associations), a cooperative association may exercise the same powers and privileges and is subject to the same duties, restrictions, and liabilities as a nonprofit corporation.

(b)

A cooperative association may:

(1)

own and hold membership in other associations or corporations;

(2)

own and hold share capital of other associations or corporations;

(3)

own and exercise ownership rights in bonds or other obligations;

(4)

make agreements of mutual aid or federation with other associations, other groups organized on a cooperative basis, or other nonprofit groups; and

(5)

deliver money to a scholarship fund for rural students.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source: Section 2.110 — Powers of Cooperative Association, https://statutes.­capitol.­texas.­gov/Docs/BO/htm/BO.­2.­htm#2.­110 (accessed Mar. 23, 2024).

Accessed:
Mar. 23, 2024

§ 2.110’s source at texas​.gov