Text
Title 7: Agriculture
Subtitle B: Regulations of the Department of Agriculture (Continued)
CHAPTER XIV: COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
SUBCHAPTER B: LOANS, PURCHASES, AND OTHER OPERATIONS
PART 1425: COOPERATIVE MARKETING ASSOCIATIONS
1425.8 - Ownership and control.
(a) CMA's must be owned and controlled by active members of the CMA.
(b) The CMA must provide evidence that:
(1) Active members own more than 50 percent of its allocated equity; and
(2) A majority of directors are active members of the CMA or authorized representatives of active members.
(c) An applicant cooperative or a CMA, not under the ownership or control, of its active members, may be approved by CCC if it is able to establish that, by retiring the equity of its inactive members or by obtaining new members, it can vest ownership and control in its active members, as required by this section, by a date specified by CCC.
Sponsored links
