Title 16 Chapter 16 Section 702
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Corporations | |
Uniform Limited Cooperative Association Act | |
Section 702 | Marketing contracts. |
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16-16-702. Marketing contracts.
(1) If a marketing contract provides for the sale of products, commodities, or goods to a limited cooperative association, the sale transfers title to the association upon delivery or at any other specific time expressly provided by the contract. (2) A marketing contract may: (a) authorize a limited cooperative association to create an enforceable security interest in the products, commodities, or goods delivered; and (b) allow the association to sell the products, commodities, or goods delivered and pay the sales price on a pooled or other basis after deducting selling costs, processing costs, overhead, expenses, and other charges. (3) Some or all of the provisions of a marketing contract between a patron member and a limited cooperative association may be contained in the organic rules. Enacted by Chapter 363, 2008 General Session | |
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