§ 2-2-116 - Marketing contracts -- Participation agreements. - Arkansas Statutes

2-2-116. Marketing contracts -- Participation agreements.

(a) (1) Upon resolution adopted by its board of directors, any association may enter into all necessary and proper contracts and agreements and make all necessary and proper stipulations, agreements, contracts, and arrangements with its members, other persons, cooperatives, corporations, or associations formed in this or any other state for the cooperative and more economical carrying on of its business or any parts of its business.

(2) Any two (2) or more associations by agreement between them may unite in employing and using or may expressly employ and use the same methods, means, and agencies for carrying on and conducting their respective businesses.

(b) In addition to or in lieu of the marketing contracts authorized in subsection (a) of this section, the association and its members or others may make and execute any other type of participation agreement in cases in which the association will engage in other than marketing activities as authorized under this subchapter.