(a) If a marketing contract provides for the sale of products, commodities, or goods to a limited cooperative association, the sale shall transfer title to the association upon delivery or at any other specific time expressly provided by the contract.
(b) A marketing contract may:
(1) Authorize a limited cooperative association to create an enforceable security interest in the products, commodities, or goods delivered; and
(2) Allow the association to sell the products, commodities, or goods delivered, and pay the sales price, on a pooled or other basis after deducting selling costs, processing costs, overhead, expenses, and other charges.
(c) Some or all of the provisions of a marketing contract between a patron member and a limited cooperative association may be contained in the organic rules.
(July 2, 2011, D.C. Law 18-378, § 2, 58 DCR 1720.)
Editor's NotesUniform Law: This section is based on § 702 of the Uniform Limited Cooperative Association Act. Edition