2023 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.