§ 54-155. Interest in other corporations or associations. - North Carolina Statutes

§54‑155.  Interest in other corporations or associations.

An association may organize,form, operate, own, control, have interest in, own stock of, or be a member ofany other corporation or corporations, with or without capital stock, andengaged in preserving, drying, processing, canning, packing, storing, handling,shipping, utilizing, manufacturing, marketing, or selling of the agriculturalproducts handled by the association, or the by‑ products thereof. If suchcorporations are warehousing corporations, they may issue legal warehousereceipts to the association, or to any other person, and such legal warehousereceipts shall be considered as adequate collateral to the extent of thecurrent value of the commodity represented thereby. In case such warehouse islicensed or licensed and bonded under the laws of this State or the UnitedStates, its warehouse receipt shall not be challenged or discriminated againstbecause of ownership or control, wholly or in part, by the association. (1921,c. 87, s. 22; C.S., s. 5259(bb).)