N.Y. Cooperative Corporations Law § 111: Definitions

§ 111. Definitions. For the purposes of this article: (a) the term

"agricultural cooperative" means a cooperative, either stock or

non-stock, operated for the mutual benefit of the members in which (1)

no member is allowed more than one vote because of the amount of stock

or membership capital he or she may own therein, and (2) the cooperative

does not pay dividends on stock or membership capital in excess of

twelve per centum per annum, and (3) the cooperative does not deal in

farm products, agricultural waste products or agricultural compost, farm

supplies, farm business services and the capture of methane and other

gases for the generation and use or sale of energy, as defined in

section 1-103 of the energy law with or for non-members in an amount

greater in value than the total amount of such business transacted by it

with or for members.

Only persons engaged in the production of agricultural products, or

cooperative corporations of such producers organized under the laws of

this or any other state, shall be eligible for membership in any

agricultural marketing or purchasing corporation formed or operated

under the provisions of this article. The terms and conditions of

membership shall be prescribed in the by-laws. The board of directors

shall be chosen at the time and place and for terms fixed by the

by-laws, but at least one-fourth of the directors must be elected

annually.

The by-laws may provide for their amendment by the board of directors;

but any amendment adopted by the board which affects the preferential

rights or obligations of the members or stockholders shall be reported

to the next annual meeting of the corporation, and if not affirmatively

approved thereat shall cease to be in effect. Such by-laws reported to

the annual meeting may be adopted, repealed or amended on the

affirmative vote of two-thirds of the members, stockholders or delegates

voting thereon at a meeting held after due written notice setting forth

the proposed action and the purpose of the meeting.

(b) The term "agricultural products" shall mean horticultural,

viticultural, dairy, livestock, poultry, bee and any other farm

products.

(c) The terms "feed", "food", and "food products" mean any substance,

capable of human, animal or poultry consumption, whether simple, mixed

or compound, and all substances or ingredients added to food for such

purpose.

(d) The term "agricultural waste products" means livestock manure and

crop residues.

(e) The term "agricultural compost" means organic waste derived

principally from farm operations and which has been subjected to

aerobic, thermophilic decomposition to produce a stable, humus-like

material.