Senate Bill 2623

AN ACT TO PROVIDE FOR THE INCORPORATION OF COOPERATIVE ASSOCIATIONS; TO PROVIDE THE POWERS AND DUTIES OF COOPERATIVES; TO PROVIDE THE REQUISITES FOR THE ARTICLES OF ASSOCIATION OF COOPERATIVES; TO PROVIDE FOR THE ADOPTION OF BYLAWS BY COOPERATIVES; TO SPECIFY THE MEMBERSHIP OF COOPERATIVES AND THE REQUISITES FOR VOTING BY MEMBERS; TO PROVIDE FOR THE ORGANIZATION OF MEETINGS AND THE NOTIFICATION OF MEMBERS OF MEETINGS; TO PROVIDE FOR THE AUTHORIZATION TO, CONTROL AND USE OF STOCK BY COOPERATIVES; TO PROVIDE FOR THE NUMBER, ELECTION AND REMOVAL OF DIRECTORS; TO PROVIDE FOR THE MEETINGS OF DIRECTORS; TO AUTHORIZE EXECUTIVE COMMITTEES; TO PROVIDE FOR THE OFFICERS OF COOPERATIVES; TO PROVIDE FOR THE COMPENSATION AND BENEFITS TO DIRECTORS, OFFICERS AND EMPLOYEES OF A COOPERATIVE; TO PROVIDE FOR THE LIABILITY OF DIRECTORS, MEMBERS, STOCKHOLDERS AND PATRONS OF COOPERATIVES; TO PROVIDE THE MANNER IN WHICH A COOPERATIVE MAY DISPOSE OF ASSETS; TO PROVIDE RULES THAT GOVERN CONTRACTS BY COOPERATIVES; TO PROVIDE THAT THE DIRECTORS SHALL DETERMINE AND DISTRIBUTE NET ASSETS AT LEAST ONCE ANNUALLY; TO PROVIDE FOR ANNUAL REPORTS; TO PROVIDE THE MANNER IN WHICH ARTICLES OF ASSOCIATION MAY BE AMENDED; TO PROVIDE THE MANNER IN WHICH COOPERATIVES MAY MERGE AND CONSOLIDATE; TO PROVIDE THE MANNER IN WHICH A COOPERATIVE MAY VOLUNTARILY DISSOLVE ITSELF; TO LIMIT THE USE OF THE TERM "COOPERATIVE" TO ASSOCIATIONS ORGANIZED UNDER THIS ACT AND TO PROVIDE PENALTIES FOR IMPROPER USE OF SUCH TERM; TO PROVIDE FOR ADMINISTRATIVE DISSOLUTION; TO AMEND SECTION 79-35-19, MISSISSIPPI CODE OF 1972, TO CONFORM; AND FOR RELATED PURPOSES.

In the Senate

• John Horhn

  Sponsor

l9n doesn't hold this bill's text yet.

In the Senate Jan 16 – Jan 31

1. Jan 16Referred to the Senate committees on Judiciary, Division A and on Accountability, Efficiency, Transparency
2. Jan 31Died in committee in the Senate