It is the duty of every association organized pursuant to provisions of the Cooperative Marketing Association Act and foreign associations admitted to do business in this state under that act to procure annually from the secretary of state a license authorizing the transaction of business in the state. Each domestic or foreign corporation shall pay annually a license fee of twenty-five dollars ($25.00) to the secretary of state before receiving such license.
History: Laws 1937, ch. 152, § 20; 1941 Comp., § 48-1320; 1953 Comp., § 45-14-20; 1993, ch. 311, § 13; 2013, ch. 75, § 51.
ANNOTATIONSThe 2013 amendment, effective July 1, 2013, required that associations acquire an annual permit from the secretary of state; after "procure annually from the", deleted "state corporation commission" and added "secretary of state" and after "twenty-five dollars ($25.00) to the", deleted "state corporation commission" and added "secretary of state".
The 1993 amendment, effective July 1, 1993, substituted "the Cooperative Marketing Association" for "this" in the first sentence and "twenty-five dollars ($25.00)" for "ten dollars ($10.00)" in the second sentence, made several stylistic changes, and deleted the following language which formerly followed "license" at the end of the section: "except that when the gross sales of the association on business done within the state shall be less than twenty thousand dollars ($20,000.000) per year, the license to be paid shall be five dollars ($5.00)".
Am. Jur. 2d, A.L.R. and C.J.S. references. — 18 Am. Jur. 2d Cooperative Associations § 12; 51 Am. Jur. 2d Licenses and Permits § 42.