NY Coop Corp L § 14 (2021)
2021 New York Laws CCO - Cooperative Corporations Article 2 - Formation and Dissolution of Cooperative Corporations; Classes; Powers; By-Laws 14 - General Powers.

§  14. General powers. In addition to the powers and rights set out in the  business  corporation  law  or,  in  the  case  of   a   membership cooperative,  the not-for-profit corporation law and subject thereto and subject to the provisions of this  chapter,  a  cooperative  corporation shall  have the following additional specific powers to be exercised for the furtherance of its lawful purposes and business:  (a) To define or limit its activities as set forth in its  certificate of incorporation or in its by-laws.  (b) To handle the products of non-members, except that, in the case of a  producers'  cooperative corporation, such non-member products handled in any year must not exceed the total of similar  products  handled  for its own members.  (c) To make advance payments or loans to members.  (d) To  act  as  the  agent or representative of any member, including other cooperatives with which it is affiliated in any of the  activities of the member or other cooperative.  (e) To  acquire, own, sell, transfer or pledge shares of capital stock or bonds or other securities of any corporation or  association  engaged in  any  directly  related  activity  or in the warehousing, handling or marketing of any of the products handled by the corporation.  (f) To establish reserves, and to invest the funds thereof in bonds or in such other property as may be provided in the by-laws.  (g) To establish, secure, own  and  develop  patents,  trademarks  and copyrights.  (h) To  set  forth  in  its  certificate  of incorporation, by-laws or member   contracts   the   number,   qualifications,    classifications, obligations  and relative rights of its members; and general rules as to the property and funds of the corporation, the property  rights,  voting rights  and  interests of members and of its several classes of members, the admission of new members, the resignation or removal of members, the transfer, suspension, termination, forfeiture, retirement  and  purchase of  membership and membership certificates (including shares of stocks), the  methods  thereof,  the  distribution  to  members,  the  making  of contracts  with its members and with others, the holding of meetings and elections, the establishment of voting districts, and  the  election  of delegates  to  represent  the  members in such districts or to represent affiliated corporations or associations.  (i) To  adopt  and  amend  by-laws,  consistent  with  law   and   the certificate  of incorporation, including emergency by-laws made pursuant to  subdivision  seventeen  of  section  twelve  of  the  state  defense emergency  act,  relative  to  the  foregoing  subjects, the conduct and management of the affairs of the corporation, the calling and conduct of meetings, the amount of stock or the number or proportion of members  or delegates  which  must  be  represented at meetings of the shareholders, members or delegates to constitute a quorum, the manner of  voting,  the election,  appointment,  removal, powers, duties, terms and compensation of its officers, directors and committees, and the fixing of  procedures and  liabilities  in  case  of  violations  of  the  by-laws  or  of the obligations of members, officers or directors.  (j) To become a member of any other cooperative corporation with  such rights,   powers  and  representations  as  may  be  prescribed  in  the certificate of incorporation or the by-laws of the latter corporation.  (k) To act as agent for  a  non-member  in  the  performance  of  such services as are permitted under this chapter for its members.  (l) To  enter  into all proper contracts and agreements with any other cooperative corporation for the cooperative and more economical carrying on of its business or any portion thereof,  or  for  the  employment  of common facilities or agencies.  (m) To  act  as an agency for, or subsidiary of, any other cooperative corporation or corporations.  (n) To  act  as  a holding corporation for the properties of any other cooperative corporation or corporations.  (o) To borrow  money  and  contract  debts,  when  necessary  for  the exercise  of  its corporate rights and purposes; to issue and dispose of its obligations for any amount so borrowed; and to pledge  its  property and franchises to secure the payment of its debts.  (p) To limit the amount of indebtedness which may be incurred by it or on its behalf.  (q) To  possess  and  exercise  all  powers,  rights  and  privileges, including the acquisition  of  real  property,  necessary,  suitable  or incidental  to  the  purposes or activities for which the corporation is organized or in which it is engaged.